Weekly Initial Unemployment Claims increase to 336,000, Four Week Average Lowest since November 2007

The DOL reports:

In the week ending August 17, the advance figure for seasonally adjusted initial claims was 336,000, an increase of 13,000 from the previous week's revised figure of 323,000. The 4-week moving average was 330,500, a decrease of 2,250 from the previous week's revised average of 332,750.

The previous week was revised up from 320,000.

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 330,500.

The 4-week average is at the lowest level since November 2007 (before the recession started).  Claims were above the 329,000 consensus forecast.

Here is a long term graph of the 4-week average of weekly unemployment claims back to 1971.