Thursday, June 11, 2009

Weekly claims still pointing to a bottom (3)

This chart plots the 6-month annualized rate of change in the four-week moving average of weekly unemployment claims. Claims have been declining for the past nine weeks, and the 4-week moving average has not budged, on balance, for the past 16 weeks. It's clearly the case that the labor market has stopped deteriorating, and on the margin things are looking better.

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