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Thursday, May 04, 2023

Weekly Initial Unemployment Claims increase to 242,000

by Calculated Risk on 5/04/2023 08:30:00 AM

The DOL reported:

In the week ending April 29, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 13,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 230,000 to 229,000. The 4-week moving average was 239,250, an increase of 3,500 from the previous week's revised average. The previous week's average was revised down by 250 from 236,000 to 235,750.
emphasis added
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 239,250.

The previous week was revised down.

Weekly claims were close to the consensus forecast.