posted on 12 November 2015
07 November 2015 Initial Unemployment Claims Rolling Average Again Degrades But Remains Very Low Historically
Weekly Initial Unemployment Claims
The market (from Bloomberg) was expecting the weekly initial unemployment claims at 260 K to 280 K (consensus 266,000) vs the 276,000 reported. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 259,250 (reported last week as 259,250) to 262,750. The rolling averages generally have been equal to or under 300,000 since August 2014.
It should be pointed out that Econintersect watches the year-over-year change on the 4 week moving average. There is always some seasonality which migrates into the seasonally adjusted data, and year-over-year comparisons helps remove some seasonality. The four week rolling average of initial claims are 6.5 % lower (degradation from the 7.1 % for last week) than they were in this same week in 2014.
Weekly Initial Unemployment Claims - 4 Week Average - Seasonally Adjusted - 2011 (red line), 2012 (green line), 2013 (blue line), 2014 (orange line). 2015 (violet line)
Claim levels are at 40 year lows (with the normal range around 350,000 weekly initial unemployment claims of levels seen historically during times of economic expansion - see chart below).
From the Department of Labor:
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