Blogging on Employment and Job Markets in US Metro Areas

Weekly Initial Unemployment Claims down 12.1% from a year ago

The Department of Labor reported that for the week ending February 4, seasonally adjusted initial claims were 234,000, down from the previous week’s unrevised level of 246,000. The 4-week moving average was 244,250, a decrease of 3,750 from the previous week’s unrevised average of 248,000. Compared to a year earlier, the 4-week moving average is down 12.1%. Here’s a graph from FRED:

4-week moving average of unemployment cliams down 12.1% from a year earlier