Weekly Initial Unemployment Claims Decrease to 218,000

by Calculated Risk on 2/08/2024 08:30:00 AM

The DOL reported:

In the week ending February 3, the advance figure for seasonally adjusted initial claims was 218,000, a decrease of
9,000 from the previous week’s revised level. The previous week’s level was revised up by 3,000 from 224,000 to
227,000. The 4-week moving average was 212,250, an increase of 3,750 from the previous week’s revised average. The
previous week’s average was revised up by 750 from 207,750 to 208,500.
emphasis added

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 current 4-week average. The four-week average of weekly unemployment claims increased to 212,250.

The previous week was revised up.

Weekly claims were below the consensus forecast.