Weekly Initial Unemployment Claims increase slightly, Four Week Average lowest since May 2007

The DOL reports:

In the week ending September 28, the advance figure for seasonally adjusted initial claims was 308,000, an increase of 1,000 from the previous week's revised figure of 307,000. The 4-week moving average was 305,000, a decrease of 3,750 from the previous week's revised average of 308,750.

The previous week was revised up from 305,000.

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

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 305,000.

The 4-week average is at the lowest level since May 2007 (before the recession started).  Claims were below the 313,000 consensus forecast.

Here is a long term graph of the 4-week average of weekly unemployment claims back to 1971.

The current level of weekly claims is consistent with a solidly growing economy.

Note: This information is collected by the states and will continue to be released.