July 7, 2016

Initial Unemployment Claims: 254K SA; Raw Claims (267K) 12 Pct. Lower Than Same Week Last Year

Filed under: Economy,Taxes & Government — Tom @ 9:14 am

From the Department of Labor:


In the week ending July 2, the advance figure for seasonally adjusted initial claims was 254,000, a decrease of 16,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 268,000 to 270,000. The 4-week moving average was 264,750, a decrease of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 500 from 266,750 to 267,250.


The advance number of actual initial claims under state programs, unadjusted, totaled 267,137 in the week ending July 2, an increase of 3,714 (or 1.4 percent) from the previous week. The seasonal factors had expected an increase of 21,074 (or 8.0 percent) from the previous week. There were 303,585 initial claims in the comparable week in 2015.

Initial claims continue to stay low, with generally no trouble spots seen in the raw numbers — though this week’s (and next week’s) comparison will be skewed because July 4 was on Saturday last year, and government offices treated the previous day as the holiday. That said, accounting for holiday timing makes today’s comparison with 5 business days last week look even better, because to last year’s comparable week had 4 business days.


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