Initial Jobless claims

From the WSJ.

The number of Americans filing new claims for unemployment benefits fell by 12,000 to a seasonally adjusted 377,000 last week. While claims dropped, the average for the past four weeks — a less-volatile measure — actually rose slightly to 377,750. The labor market remains weaker than it was earlier this year, putting pressure on policy makers to consider action.

 My interpretation is that for the last four weeks, the number of jobless claims have been increasing but for the three-month period the number has fallen.  I think that the WSJ is committing the fallacy of composition.  Even though these are seasonally adjusted, the slight bump can hardly be generalized. Put simply, an increase in jobless claims means that jobs are harder to find.

An excellent definition is here and repeated here.  "An "initial jobless claim" is when somebody applies for unemployment benefits for the first time."  Given this definition, it might show that more and more people are losing their jobs for the first time.