by Calculated Risk on 2/22/2007 10:43:00 AM

From the Department of Labor:

In the week ending Feb. 17, the advance figure for seasonally adjusted initial claims was 332,000, a decrease of 27,000 from the previous week's revised figure of 359,000. The 4-week moving average was 328,000, an increase of 1,250 from the previous week's revised average of 326,750.

Click on graph for larger image.

This graph shows the four moving average weekly unemployment claims since 1968. Although the four week moving average has recently been trending upwards, the level is still fairly low and not a concern.

Also, from the Conference Board today: Help-Wanted Advertising Index Dips Two Points

The Conference Board Help-Wanted Advertising Index — a key measure of job offerings in major newspapers across America — declined two points in January. The Index now stands at 32. It was 38 one year ago.

Although both claims and the help-wanted index were slightly weaker than expected, there is nothing indicating a significant slowing of the labor market.