Initial Jobless Claims Inch Higher

The 4-week moving average of initial jobless claims rose to its highest level since February 2004 (excluding the Hurricane Katrina strike)

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending March 15, the advance figure for seasonally adjusted initial claims was 378,000, an increase of 22,000 from the previous week's revised figure of 356,000. The 4-week moving average was 365,250, an increase of 6,000 from the previous week's revised average of 359,250.

The advance seasonally adjusted insured unemployment rate was 2.2 percent for the week ending March 8, an increase of 0.1 percentage point from the prior week's unrevised rate of 2.1 percent.

The advance number for seasonally adjusted insured unemployment during the week ending March 8 was 2,865,000, an increase of 32,000 from the preceding week's revised level of 2,833,000. The 4-week moving average was 2,832,250, an increase of 19,750 from the preceding week's revised average of 2,812,500.

the 4 week MA has yet to push through that 400k level but it continues to inch ever higher. Expect the upward trend to continue in the coming months.