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Weekly Initial Unemployment Claims decreased to 204,000, Lowest Since 1969

Summary:
The DOL reported:In the week ending September 8, the advance figure for seasonally adjusted initial claims was 204,000, a decrease of 1,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week's level was revised up by 2,000 from 203,000 to 205,000. The 4-week moving average was 208,000, a decrease of 2,000 from the previous week's revised average. This is the lowest level for this average since December 6, 1969 when it was 204,500. The previous week's average was revised up by 500 from 209,500 to 210,000emphasis addedThe previous week was revised up.The following graph shows the 4-week moving average of weekly claims since 1971.Click on graph for larger image.The dashed line on the graph is the

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The DOL reported:
In the week ending September 8, the advance figure for seasonally adjusted initial claims was 204,000, a decrease of 1,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week's level was revised up by 2,000 from 203,000 to 205,000. The 4-week moving average was 208,000, a decrease of 2,000 from the previous week's revised average. This is the lowest level for this average since December 6, 1969 when it was 204,500. The previous week's average was revised up by 500 from 209,500 to 210,000
emphasis added
The previous week was revised up.

The following graph shows the 4-week moving average of weekly claims since 1971.

Weekly Initial Unemployment Claims decreased to 204,000, Lowest Since 1969Click on graph for larger image.


The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 208000.

This was lower than the the consensus forecast. The low level of claims suggest few layoffs.
Bill McBride
A full time blogger, Mr. McBride retired as a senior executive from a small public company in the '90s. Mr. McBride holds an MBA from the University of California, Irvine, and has a background in management, finance and economics.

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