Weekly Initial Unemployment Claims increase to 309,000, Four Week Average lowest since October 2007

The DOL reports:

In the week ending September 14, the advance figure for seasonally adjusted initial claims was 309,000, an increase of 15,000 from the previous week's revised figure of 294,000. The 4-week moving average was 314,750, a decrease of 7,000 from the previous week's revised average of 321,750.

The previous week was revised up from 292,000.

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 314,750.

The 4-week average is at the lowest level since October 2007 (before the recession started).  Claims were below the 341,000 consensus forecast.

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