Initial Jobless Claims Unexpectedly Fall to 366,000, A 3-Year Low

Posted on December 15, 2011

The Department of Labor reported that in the week ending December 10th , the advance figure for weekly jobless claims was 366,000, a decrease of 19,000 from the previous weeks revised figure of 385,000. The 4-week moving average is now 387,750, a decrease of 6,500 from the previous week’s revised average of 394,250. Weekly claims have not been this low since February 10, 2008. However, weekly revisions are usually to the upside.

Last week there was an issue about the growing divergence between seasonally adjusted & non-seasonally adjusted claims. This week the divergence was much small. It will get larger as we move towards the end of the year. As I wrote in a post last week, this is a normal occurrence this time of year and has happened in every year of the 10 years of data that is in my database.

US: Initial Jobless Claims
Initial Claims 381,000 385,000 366,000
Continuing Claims 3,583,000 3,599,000 3,603,000