Thursday, July 05, 2018

Weekly Initial Unemployment Claims increased to 231,000

by Bill McBride on 7/05/2018 08:32:00 AM

The DOL reported:

In the week ending June 30, the advance figure for seasonally adjusted initial claims was 231,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 227,000 to 228,000. The 4-week moving average was 224,500, an increase of 2,250 from the previous week's revised average. The previous week's average was revised up by 250 from 222,000 to 222,250.
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 increased to 224,500.

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