by Calculated Risk on 11/10/2010 08:30:00 AM

Update: due to revisions, this is the lowest level since September 2008 for the 4-week moving average.

The DOL reports on weekly unemployment insurance claims:

In the week ending Nov. 6, the advance figure for seasonally adjusted initial claims was 435,000, a decrease of 24,000 from the previous week's revised figure of 459,000. The 4-week moving average was 446,500, a decrease of 10,000 from the previous week's revised average of 456,500.

Click on graph for larger image in new window.

This graph shows the 4-week moving average of weekly claims since January 2000.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased this week by 10,000 to 446,500.

This is the lowest level for the 4-week moving average since January of this year September 2008 - an improvement over recent months, but still elevated - and still a sign of weakness in the job market.