by Calculated Risk on 10/29/2015 08:56:00 AM

The DOL reported:

In the week ending October 24, the advance figure for seasonally adjusted initial claims was 260,000, an increase of 1,000 from the previous week's unrevised level of 259,000. The 4-week moving average was 259,250, a decrease of 4,000 from the previous week's unrevised average of 263,250. This is the lowest level for this average since December 15, 1973 when it was 256,750.

There were no special factors impacting this week's initial claims.

The previous week was unrevised at 259,000.

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 decreased to 259,250.  This is the lowest level since 1973.

This was below the consensus forecast of 265,000, and the low level of the 4-week average suggests few layoffs.