US Initial Jobless Claims at 3-Month High

The number of Americans filing for unemployment benefits rose by 7 thousand to 265 thousand in the week ended October 29th, above market expectations of 255 thousand and reaching the highest figure since August 6th. However, it is the 87th straight week of initial claims below 300 thousand, the longest streak since 1970.

The 4-week moving average which smooths out week-to-week volatility, was 257,750, an increase of 4,750 from the previous week's unrevised average of 253,000.

On an unadjusted basis, the biggest increases in initial claims were recorded in Misssouri (up by 4,085), Kentucky (up by 3,553) and California (up by 2,528). In contrast, North cCarolina (-2,226),; Michigan (-1,188) and Georgia (-1,028) recorded the biggest declines. 

The advance seasonally adjusted insured unemployment rate was 1.5 percent for the week ending October 22, unchanged from the previous week's unrevised rate. 

Continuing claims fell to 2,026,000 during the week ending October 22, a decrease of 14,000 from the previous week's revised level and the lowest since June 10, 2000 when it was 2,020,000. The previous week's level was revised up 1,000 from 2,039,000 to 2,040,000. 

The 4-week moving average was 2,042,500, a decrease of 9,000 from the previous week's revised average. This is the lowest level for this average since July 1, 2000 when it was 2,036,500. The previous week's average was revised up by 250 from 2,051,250 to 2,051,500.

US Initial Jobless Claims at 3-Month High

DOL | Joana Taborda |
11/3/2016 12:53:04 PM