Weekly Unemployment Claims: Down Another 2K

Here is the opening statement from the Department of Labor:

In the week ending June 25, the advance figure for seasonally adjusted week moving aver initial claims was 231,000, a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 229,000 to 233,000. The 4 week moving average was 231,750, an increase of 7,250 from the previous week's revised average. The previous week's average was revised up by 1,000 from 223,500 to 224,500.

The advance seasonally adjusted insured unemployment rate was 0.9 percent for the week ending June 18, a decrease of 0.1 percentage point from the previous week's revised rate. The previous week's rate was revised up by 0.1 from 0.9 to 1.0 percent. The advance number for seasonally adjusted insured unemployment during the week ending June 18 was 1,328,000, a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up 16,000 from 1,315,000 to 1,331,000. The 4 week moving average was 1,319,500, an increase of 5,500 from the previous week's revised average. The previous week's average was revised up by 4,000 from 1,310,000 to 1,314,000.

This morning's seasonally adjusted 231K new claims, down 2K from the previous week's revised figure, was above the Investing.com forecast of 2278K.

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.