by Calculated Risk on 6/23/2022 08:36:00 AM

The DOL reported:

In the week ending June 18, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 229,000 to 231,000. The 4-week moving average was 223,500, an increase of 4,500 from the previous week's revised average. The previous week's average was revised up by 500 from 218,500 to 219,000.
emphasis added

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 223,500.

The previous week was revised up.

Weekly claims were higher than the consensus forecast.