by Bill McBride on 10/12/2017 08:34:00 AM
The DOL reported:
In the week ending October 7, the advance figure for seasonally adjusted initial claims was 243,000, a decrease of 15,000 from the previous week’s revised level. The previous week’s level was revised down by 2,000 from 260,000 to 258,000. The 4-week moving average was 257,500, a decrease of 9,500 from the previous week’s revised average. The previous week’s average was revised down by 1,250 from 268,250 to 267,000.
Hurricanes Harvey, Irma, and Maria impacted this week’s claims.
The previous week was revised down.
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 decreased to 257,500.
This was below the consensus forecast. The recent increase in claims is due to the hurricanes.