From the Labor Department In the week ending July 7, the advance figure for seasonally adjusted initial claims was 214,000, a decrease of 18,000 from the previous week’s revised level.  The previous week’s level was revised up by 1,000 from 231,000 to 232,000.  The 4-week moving average was 223,000, a decrease of 1,750 from the previous week’s revised average.  The previous week’s average was revised up by 250 from 224,500 to 224,750.

In sum,  So far this year, 27 out of 52 weeks, initial claims have averaged 225K.  That’s the lowest average since 1969($196K). 

Rollbacks matter.

Hat tip Ryan Detrick.