Weekly Initial Unemployment Claims Decrease to 233,000

by Calculated Risk on 8/08/2024 08:30:00 AM

The DOL reported:

In the week ending August 3, the advance figure for seasonally adjusted initial claims was 233,000, a decrease of 17,000
from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 249,000 to 250,000. The
4-week moving average was 240,750, an increase of 2,500 from the previous week’s revised average. The previous
week’s average was revised up by 250 from 238,000 to 238,250.
emphasis added

The following graph shows the 4-week moving average of weekly claims since 1971.

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 increased to 240,750.

The previous week was revised up.

Weekly claims were lower than the consensus forecast.