The labour market remains stuck in the mud since April second, the last time seasonally adjusted initial unemployment claims fell below 400,000.
Initial Unemployment Claims For 2011
Please consider the Department of labour Weekly Claims Report.
In the week ending June 25, the advance figure for seasonally adjusted initial claims was 428,000, a decrease of 1,000 from the previous week’s unrevised figure of 429,000. The 4-week moving average was 426,750, an increase of 500 from the previous week’s unrevised average of 426,250.
The recovery is now 2 full years old. Yet, the 4-week moving average of weekly claims remains an elevated 426,750.
4-Week Moving Average of Weekly Claims
The 4-week moving average of weekly unemployment claims is at or above recession levels.
Mike “Mish” Shedlock
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