The DOL reports:
Special Factor: Minnesota has indicated that approximately 11,500 of their reported initial claims are a result of state employees filing due to the state government shutdown.In the week ending July 9, the advance figure for seasonally adjusted initial claims was 405,000, a decrease of 22,000 from the previous week’s revised figure of 427,000. The 4-week moving average was 423,250, a decrease of 3,750 from the previous week’s revised average of 427,000.
This is the 14th straight week with initial claims above 400,000, and the 4-week average is at about the same the level as in January.
The following graph shows the 4-week moving average of weekly claims for the last 40 years.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased slightly this week to 423,250.
This is just one week, and this series is very volatile (that is why most people follow the 4-week average). Also last week was revised up significantly. Still, the decline to 405,000 is a positive …
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Tags: Claims, Unemployment Claims
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