The number of initial unemployment claims remains elevated. Here is the table I posted last week.
Initial Unemployment Claims For 2011
We can now tack on another week.
Please consider the Department of Labor Weekly Claims Report.
In the week ending July 2, the advance figure for seasonally adjusted initial claims was 418,000, a decrease of 14,000 from the previous week’s revised figure of 432,000. The 4-week moving average was 424,750, a decrease of 3,000 from the previous week’s revised average of 427,750.
Note that last week was revised from 428,000 to 432,000 accounting for 4,000 of today’s reported 14,000 drop.
Mike “Mish” Shedlock
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