12/18/2020 3:02:17 AM GMT
Initial unemployment claims rose for the fourth time in five weeks.
4-Week Moving Average in Initial Claims
The best way to spotlight trends in initial claims is to look at the 4-week moving average.
I added that chart for this week s report.
The 4-week moving average trend lower bottomed two weeks ago at 740,000 and is now 812,500.
It rose for the second consecutive week. That hasn t happened since April 18.
Initial State Unemployment Claims in 2020 2020-11-17
Initial unemployment claims are seasonally adjusted. Initial claims were in the 200,000 to 215,000 range pre-pandemic. They are now 855,000.
Continued State Unemployment Claims
Continued claims ticked lower, but this is a statistical mirage.