Weekly Initial Unemployment Claims at 320,000, Four Week Average Lowest since 2007

The DOL reports:

In the week ending August 10, the advance figure for seasonally adjusted initial claims was 320,000, a decrease of 15,000 from the previous week's revised figure of 335,000. The 4-week moving average was 332,000, a decrease of 4,000 from the previous week's revised average of 336,000.

The previous week was revised up from 333,000.

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 332,000.

The 4-week average is at the lowest level since November 2007 (before the recession started).  Claims were below the 330,000 consensus forecast.