Weekly Unemployment

The Department of Labor released its, "Unemployment Insurance Weekly Claims Report," which began,

In the week ending May 16, the advance figure for seasonally adjusted initial claims was 631,000, a decrease of 12,000 from the previous week's revised figure of 643,000. The 4-week moving average was 628,500, a decrease of 3,500 from the previous week's revised average of 632,000.

Because of research by Robert J. Gordon which finds that recessions often bottom out shortly after the 4-week moving average peaks, interest in the average has increased.  The 4-week moving average may have peaked in the week ended March 14, 2009.