Weekly Unemployment Claims: Down 2K

Here is the opening statement from the Department of Labor:

In the week ending June 18, the advance figure for seasonally adjusted week moving aver initial claims was 229,000, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 229,000 to 231,000. The 4 week moving average was 223,500, an increase of 4,500 from the previous week's revised average. The previous week's average was revised up by 500 from 218,500 to 219,000.

The advance seasonally adjusted insured unemployment rate was 0.9 percent for the week ending June 11, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted, insured unemployment claims during the week ending June 11 was 1,315,000, an increase of 5,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 1,312,000 to 1,310,000. The 4 week moving average was 1,310,000, a decrease of 7,000 from the previous week's revised average. This is the lowest level for this average since January 3, 1970 when it was 1,280,250. The previous wee k's average was revised down by 500 from 1,317,500 to 1,317,000.

This morning's seasonally adjusted 229K new claims, down 2K from the previous week's revised figure, was above the Investing.com forecast of 227K.

Here is a close look at the data over the decade (with a callout for the past year), which gives a clearer sense of the overall trend.