weekly unemployment claims

390,000 Initial Unemployment Claims for Week of November 5th

Initial weekly unemployment claims for the week ending on November 5th, 2011 were 390,000. The DOL reports this as a decrease of 10,000 from the last week. The previous week was revised, from 397,000 to 400,000, an increase of 3,000. Still, initial unemployment claims are breaking 400,000 and this is a 7 month low.


Initial weekly unemployment claims for July 23, 2011

Initial weekly unemployment claims decreased to 398,000, the first time initial claims has dropped below 400,000 since April. That said, last week was revised up from 418,000 to 422,000. The 4 week moving average is 413,750, but declined 8,500 from last week's 422,250. A weekly average above 400,000 does not indicate job growth.


Initial weekly unemployment claims for January 25, 2010

Initial weekly unemployment claims increased 22,000 to 496,000. There is a lot of statistical noise in initial weekly unemployment claims and one can guarantee this number will be revised. So why is this important? We're seeing a trend at this point and it's increasing, not decreasing as the green shooters, cyclical folks believe it would.



The 4 week moving average since the start of this recession: