Thursday, February 09, 2012

Jobless Claims Fall to Lowest Level Since Apr. 2008

In another positive sign that the U.S. labor market is gradually improving, the Labor Department reported today that the four-week moving average for initial jobless claims fell to 366,250 for the week ending February 4, which is the lowest level since the week of April 26, 2008, almost four years ago (see chart above). This marks the fourth consecutive weekly decline in the four-week moving average, and the ninth decline in the last ten weeks. 

If the current rate of decline in jobless claims over the last few months continues (-4,100 average per week since December), the four-week moving average for initial jobless claims will be back to pre-recession, November 2007 levels by early April. 

2 Comments:

At 2/09/2012 9:50 AM, Blogger Jon Murphy said...

It is good to see those numbers falling and reducing the job churn in the economy. A generally improving economy in 2012 should help keep these numbers low, too

 
At 2/09/2012 8:18 PM, Blogger juandos said...

"the Labor Department reported today that the four-week moving average for initial jobless claims fell to 366,250 for the week ending February 4, which is the lowest level since the week of April 26, 2008..."...

Are we sure we're getting valid data from the BLS?

 

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