Weekly Initial Unemployment Claims decrease to 340,000

The DOL reports:

In the week ending March 2, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 7,000 from the previous week’s revised figure of 347,000. The 4-week moving average was 348,750, a decrease of 7,000 from the previous week’s revised average of 355,750.

The previous week was revised up from 344,000.

The following graph shows the 4-week moving average of weekly claims since January 2000.

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 348,750 – this is the lowest level since March 2008.

Weekly claims were below the 355,000 consensus forecast. Note: Claims might increase soon due to the “sequestration” budget cuts.

Posted in Executive Prospectus, Financial Prospectus

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