Thursday, November 29, 2018

Weekly Initial Unemployment Claims increased to 234,000

by Bill McBride on 11/29/2018 08:33:00 AM

The DOL reported:

In the week ending November 24, the advance figure for seasonally adjusted initial claims was 234,000, an increase of 10,000 from the previous week's unrevised level of 224,000. The 4-week moving average was 223,250, an increase of 4,750 from the previous week's unrevised average of 218,500.
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 increased to 223,250.

This was higher than the consensus forecast, and initial claims have increased recently. However the low level of claims suggest few layoffs.