Thursday, July 24, 2014

Weekly Initial Unemployment Claims decrease to 284,000, 4-Week Average Lowest since May 2007

by Calculated Risk on 7/24/2014 08:30:00 AM

The DOL reports:

In the week ending July 19, the advance figure for seasonally adjusted initial claims was 284,000, a decrease of 19,000 from the previous week's revised level. This is the lowest level for initial claims since February 18, 2006 when they were 283,000. The previous week's level was revised up by 1,000 from 302,000 to 303,000. The 4-week moving average was 302,000, a decrease of 7,250 from the previous week's revised average. This is the lowest level for this average since May 19, 2007 when it was 302,000. The previous week's average was revised up by 250 from 309,000 to 309,250.

There were no special factors impacting this week's initial claims.
The previous week was revised up to 303,000.

The following graph shows the 4-week moving average of weekly claims since January 1971.

Click on graph for larger image.


The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 302,000.

This was lower than the consensus forecast of 310,000.  The 4-week average is now at normal levels for an expansion.