Briefing.com


Initial Claims for the Week Ended Jun 27

Updated 02-Jul-09 09:22 ET






Highlights

  • Initial unemployment claims for the week ended June 27 came in at 614,000, while the prior week was revised up to 630,000 from 627,000.
  • The latest number was basically in-line with the consensus estimate of 615,000.
  • Continuing claims fell to 6.702 million from 6.738 million the prior week.

Key Factors

  • The prevailing message remains that the labor market is weak and that's not a great portent for consumer spending or the housing recovery.

Big Picture

  • New claims for unemployment are at recessionary levels, as the financial crisis on Wall Street spilled over to Main Street in noticeable fashion with the seizing up of the credit markets in late summer/early fall 2008.

Category Jun 27 Jun 20 Jun 13 Jun 6 May 30
Initial Claims 614K 630K 612K 605K 625K
4-Wk Moving Avg 615K 618K 617K 623K 632K
Continued Benefits 6702K 6755K 6714K 6835K
4-Wk Moving Avg 6752K 6765K 6764K 6755K