by Calculated Risk on 7/13/2023 08:34:00 AM

The DOL reported:

In the week ending July 8, the advance figure for seasonally adjusted initial claims was 237,000, a decrease of 12,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 248,000 to 249,000. The 4-week moving average was 246,750, a decrease of 6,750 from the previous week's revised average. The previous week's average was revised up by 250 from 253,250 to 253,500.
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 decreased to 246,750.

The previous week was revised up.

Weekly claims were below the consensus forecast.