The DOL reports:



In the week ending August 13, the advance figure for seasonally adjusted initial claims was 408,000, an increase of 9,000 from the previous week's revised figure of 399,000. The 4-week moving average was 402,500, a decrease of 3,500 from the previous week's revised average of 406,00.

Click on graph for larger image in graph gallery.

The following graph shows the 4-week moving average of weekly claims since January 2000 ( longer term graph in graph gallery).The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased this week to 402,500.This is the lowest level for the 4-week average since early April. The 4-week average is still elevated, but has been moving down since mid-May.Note: CPI increased 0.5% in July (0.2% core). I'll have some graphs later.