by Calculated Risk on 9/18/2008 08:39:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending Sept. 13, the advance figure for seasonally adjusted initial claims was 455,000, an increase of 10,000 from the previous week's unrevised figure of 445,000. The 4-week moving average was 445,000, an increase of 5,000 from the previous week's unrevised average of 440,000.

Click on graph for larger image in new window.

The first graph shows weekly claims. The four moving average is at 440,000.

This is a very high level, and indicates continued weakness in the labor market.