Thursday, June 28, 2018

Weekly Initial Unemployment Claims increased to 227,000

by Bill McBride on 6/28/2018 08:33:00 AM

The DOL reported:

In the week ending June 23, the advance figure for seasonally adjusted initial claims was 227,000, an increase of 9,000 from the previous week's unrevised level of 218,000. The 4-week moving average was 222,000, an increase of 1,000 from the previous week's unrevised average of 221,000.
emphasis added
The previous week was unrevised.

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 increased to 222,000.

This was higher than the consensus forecast. The low level of claims suggest few layoffs.