Economic Charts

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Thursday, December 9, 2010

Weekly Initial Unemployment Claims

Last weeks Initial Claims were released today showing better than expected numbers.  Initial Unemployment Claims are the number of people that applied for unemployment insurance for the first time last week.  The forecast called for a number of 426k and the actual headline number came in at 421k beating last weeks revised number by 438K.  
Revisions in delta have stayed pretty steady with a variance of about 2k lately.  So it is a safe bet to take the headline number and add 2k to it to come up with a number closer to what Intial Claims really are.  If we do this then the number is around 423k which is still an improvement, but we are still in the Christmas spending season with temporary jobs which distort the picture.

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