(March 13, 2008) – In the week ending March 8, the Department of Labor released this morning in their Unemployment Insurance Weekly Claims Report, the advance figure for seasonally adjusted initial claims was 353,000, unchanged from the previous week’s revised figure of 353,000. The 4-week moving average was 358,500, a decrease of 1,250 from the previous week’s revised average of 359,750.
This is a pretty good number. Not great–just pretty good. Consistent with slow but positive rowth. Not consistent with a recession and shrinking GDP.