by Calculated Risk on 6/06/2024 08:30:00 AM

The DOL reported:

In the week ending June 1, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 8,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 219,000 to 221,000. The 4-week moving average was 222,250, a decrease of 750 from the previous week's revised average. The previous week's average was revised up by 500 from 222,500 to 223,000.
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 decreased to 222,250.

The previous week was revised up.

Weekly claims were higher than the consensus forecast.