Weekly Initial Unemployment Claims increase to 262,000

by Calculated Risk on 8/11/2022 08:36:00 AM

The DOL reported:

In the week ending August 6, the advance figure for seasonally adjusted initial claims was 262,000, an increase of
14,000 from the previous week’s revised level. The previous week’s level was revised down by 12,000 from 260,000 to
248,000. The 4-week moving average was 252,000, an increase of 4,500 from the previous week’s revised average. The
previous week’s average was revised down by 7,250 from 254,750 to 247,500.
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 252,000.

The previous week was revised down.

Weekly claims were at the consensus forecast.