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Thursday, August 24, 2023

Weekly Initial Unemployment Claims Decrease to 230,000

by Calculated Risk on 8/24/2023 08:30:00 AM

The DOL reported:

In the week ending August 19, the advance figure for seasonally adjusted initial claims was 230,000, a decrease of 10,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 239,000 to 240,000. The 4-week moving average was 236,750, an increase of 2,250 from the previous week's revised average. The previous week's average was revised up by 250 from 234,250 to 234,500.
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 236,750.

The previous week was revised up.

Weekly claims were below the consensus forecast.