Thursday, January 02, 2020

Weekly Initial Unemployment Claims at 222,000

by Calculated Risk on 1/02/2020 08:34:00 AM

The DOL reported:

In the week ending December 28, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 222,000 to 224,000. The 4-week moving average was 233,250, an increase of 4,750 from the previous week's revised average. This is the highest level for this average since January 27, 2018 when it was 235,750. The previous week's average was revised up by 500 from 228,000 to 228,500.
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 233,250.

This was close to the consensus forecast.