by Calculated Risk on 9/07/2023 08:30:00 AM

The DOL reported:

In the week ending September 2, the advance figure for seasonally adjusted initial claims was 216,000, a decrease of 13,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 228,000 to 229,000. The 4-week moving average was 229,250, a decrease of 8,500 from the previous week's revised average. The previous week's average was revised up by 250 from 237,500 to 237,750.
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 decreased to 229,250.

The previous week was revised up.

Weekly claims were lower than the consensus forecast.