Weekly Initial Unemployment Claims: Still Suggesting Job Losses

The DOL reports on weekly unemployment insurance claims:

In the week ending March 6, the advance figure for seasonally adjusted initial claims was 462,000, a decrease of 6,000 from the previous week’s revised figure of 468,000. The 4-week moving average was 475,500, an increase of 5,000 from the previous week’s revised average of 470,500.
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The advance number for seasonally adjusted insured unemployment during the week ending Feb. 27 was 4,558,000, an increase of 37,000 from the preceding week’s revised level of 4,521,000.

Click on graph for larger image in new window.

This graph shows the 4-week moving average of weekly claims since 1971.

The four-week average of weekly unemployment claims increased this week by 5,000 to 470,500.

The dashed line on the graph is the current 4-week average. The current level of 462,000 (and 4-week average of 470,500) is still very high, and suggests continuing job losses at the beginning of March.