Initial Jobless Claims Rise Back Over 400K, No Surprises Here

Posted on December 1, 2011

The Department of Labor reported that in the week ending November 26th , the advance figure for weekly jobless claims was 402,000, an increase of 6,000 from the previous weeks revised figure of 396,000. The 4-week moving average is now 395,750, an increase of 500 from the previous week’s revised average of 395,250.

Claims are back over 400k. No surprises here, I have written for months that jobless claims were bottoming out before heading higher. This is simply another set of weekly numbers playing their part in shaping the trough. There will not be anything interesting or new to say about these numbers for a few months.

US: Initial Jobless Claims
Initial Claims 393,000 396,000 402,000
Continuing Claims 3,608,000 3,623,000 3,691,000