Weekly Initial Unemployment Claims increase to 272,000

The DOL reported:

In the week ending February 20, the advance figure for seasonally adjusted initial claims was 272,000, an increase of 10,000 from the previous week’s unrevised level of 262,000. The 4-week moving average was 272,000, a decrease of 1,250 from the previous week’s unrevised average of 273,250.

There were no special factors impacting this week’s initial claims.

The previous week was unrevised.

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 decreased to 272,000.

This was close to the consensus forecast of 270,000. The low level of the 4-week average suggests few layoffs.

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