Thursday, September 9, 2010

USA Weekly Unemployment Claims Down -27,000 (Charts) *Total Claims 451,000*

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United States Department of Labor: Unemployment Insurance Weekly Claims Report


USA Weekly Unemployment Claims at 8-Week Low

The Department of Labor reported USA Weekly Unemployment Claims were down -27,000 to 451,000 for the week ended September 4, 2010. This is the lowest weekly initial claims since the week ended July 10 at 427,000. The 4-week moving average, which is considered a more accurate, smoother measure of unemployment claims filed is now 477,750. This is down 9,250 from the revised claims of 478,000 the previous week of August 28.

The first chart below shows the last 52 weeks (1 year) of the 4-week moving average of weekly unemployment claims. The 4-week moving average dropped significantly to reach a first low of 462,500 for the week ended January 9, 2010. After an increase, another low was set of 448,000 for the week ended March 27. This has been the cyclical low to-date. The highs and lows on the chart subsequently have trended upwards, indicating continued weakness in the job market.


The next chart, below, shows the last 52 weeks (1 year) of weekly total unemployment claims, of which the chart above is the running 4-week moving average. A general decline in claims is indicated, with a recent peak of 504,000 reached for the week ended August 14 and a recent low of 427,000 reached for the week ended July 10,  which has been the cyclical  low to-date.



*Chart data from the U.S. Department of Labor*


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