Weekly Initial Unemployment Claims Increase to 238,000

The DOL reported:

n the week ending June 29, the advance figure for seasonally adjusted initial claims was 238,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 233,000 to 234,000. The 4-week moving average was 238,500, an increase of 2,250 from the previous week's revised average. The previous week's average was revised up by 250 from 236,000 to 236,250.
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 238,500.

The previous week was revised up.

Weekly claims were higher than the consensus forecast.