In the week ending December 1, the advance figure for seasonally adjusted initial claims was 370,000, a decrease of 25,000 from the previous week's revised figure of 395,000. The 4-week moving average was 408,000, an increase of 2,250 from the previous week's revised average of 405,750.
So now that Sandy has blown and gone we find that there still are too many claims to make any sort of actual progress.
Oh, and the unadjusted number of claims? 498,619, nearly 140,000 more than the week prior.
Exactly what sort of seasonal adjustment results in 120,000 claims being "adjusted out" the week after Thanksgiving? Is not "black Friday" and the holiday season a time to hire, not fire, for seasonal purpose? Hmmmm....
There were some fairly big moves in the "big table" in the November 17th week, and they were all in the positive direction, adding to 224,722 fewer claimants. That's interesting...... and something to watch for Friday.
