Economic Charts

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Thursday, December 16, 2010

Weekly Initial Unemployment Claims

Last weeks Initial Unemployment Claims were released today with better than expected news.  Initial Unemployment Claims are the number of person whom filed for unemployment for the first time in the prior week.  Last weeks number of 421K was revised up by 2k to 423k.  This weeks forecasted number called for 421k and actually came in at 420k.  We see that the 4 wk Moving average is trending downward as has since the Augusts timeframes high of 504k.  It is somewhat coincidental that stores started the Christmas shopping season earlier and thus needed additional staff for this, but I don't have those figures (merely an observation on my part).

The Delta in revisions are staying more steady as last weeks revision was a revision up by 2k which has been a norm lately.  Going on past revisions and adding 2k to this weeks number we most likely have a number more like 422k which would have disappointed, but is progress non-the-less.

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