Thursday, September 06, 2018

Weekly Initial Unemployment Claims decreased to 203,000, Lowest Since 1969

by Bill McBride on 9/06/2018 08:33:00 AM

The DOL reported:

In the week ending September 1, the advance figure for seasonally adjusted initial claims was 203,000, a decrease of 10,000 from the previous week's unrevised level of 213,000. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The 4-week moving average was 209,500, a decrease of 2,750 from the previous week's unrevised average of 212,250. This is the lowest level for this average since December 6, 1969 when it was 204,500.
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 decreased to 209,500.

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