Weekly Unemployment Down, Monthly Upby Tim Manni
New claims filed for unemployment benefits reached 450,000 last week, down 10,000 from the week prior. Despite the improvement, these numbers remain at recessionary levels.
The four-week moving average of unemployment increased to 440,500, the highest four-week moving average in over six years. Taking a look at the four-week moving average provides a more consistent view of the unemployment picture, as it eliminates the week-to-week volatility of the job market.