Weekly Initial Unemployment Claims unchanged at 276,000

The DOL reported:

In the week ending November 7, the advance figure for seasonally adjusted initial claims was 276,000, unchanged from the previous week's unrevised level. The 4-week moving average was 267,750, an increase of 5,000 from the previous week's unrevised average of 262,750.

There were no special factors impacting this week's initial claims.

The previous week was unrevised at 276,000.

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

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 increased to 267,750.

This was above the consensus forecast of 266,000, and the low level of the 4-week average suggests few layoffs.