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Thursday, August 31, 2017

Weekly Initial Unemployment Claims increase to 236,000

by Calculated Risk on 8/31/2017 08:33:00 AM

The DOL reported:

In the week ending August 26, the advance figure for seasonally adjusted initial claims was 236,000, an increase of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 234,000 to 235,000. The 4-week moving average was 236,750, a decrease of 1,250 from the previous week's revised average. The previous week's average was revised up by 250 from 237,750 to 238,000.
emphasis added
The previous week was revised up.

The following graph shows the 4-week moving average of weekly claims since 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 236,750.

This was close to the consensus forecast.

The low level of claims suggests relatively few layoffs.

Note: Claims will increase over the next few weeks due to Hurricane Harvey.