Economic Charts

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Thursday, September 16, 2010

Weekly Initial Unemployment Claims

The initial unemployment claims numbers were released this morning.  Remember Initial Claims is the number of people whom filed for unemployment insurance for the first time during the past week.  This is an indicator of a rising unemployment rate.  The actual number released today was 450k, which was under forecasts of 463k and down from last weeks revised number of 453k.  Again, as always, we need to wait for revisions.  Last weeks number was 451k Actual and the revision brought it up to 453k, this brought down the delta that was widening between actual and revised.
After a widening gap in the Delta between actual and forecast was previously hitting a high, the revision came back into line this week with a more acceptable margin of error.
On the surface, this looks like a good report as we see claims continuing to come down (less than the previous weeks momentum, but down none the less).  Again, need to monitor next weeks number and this weeks revised number to get a clearer picture.

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