by Calculated Risk on 4/22/2010 08:30:00 AM

The DOL reports on weekly unemployment insurance claims:

In the week ending April 17, the advance figure for seasonally adjusted initial claims was 456,000, a decrease of 24,000 from the previous week's revised figure of 480,000. The 4-week moving average was 460,250, an increase of 2,750 from the previous week's revised average of 457,500.
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The advance number for seasonally adjusted insured unemployment during the week ending April 10 was 4,646,000, a decrease of 40,000 from the preceding week's revised level of 4,686,000.

Click on graph for larger image in new window.

This graph shows the 4-week moving average of weekly claims since 1971.

The four-week average of weekly unemployment claims increased this week by 2,750 to 460,250.

The dashed line on the graph is the current 4-week average. The current level of 456,000 (and 4-week average of 460,250) is still high, and suggests continuing weakness in the jobs market.

The 4-week average fell to this level in December 2009 following the worst of the recession, and has essentially moved sideways for four months.