US Jobless Claims Unexpectadly Rise to 214K


The number of Americans filling for unemployment benefits rose by 7 thousand to 214 thousand in the week ended October 6th from the previous week's unrevised level of 207 thousand while markets had expected a drop to 206 thousand. Claims for South and North Carolina continue to be affected by the effects of Hurricane Florence, which caused damages in the region in mid-September.

The 4-week moving average was 209,500, an increase of 2,500 from the previous week's unrevised average of 207,000. 

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending September 29, unchanged from the previous week's unrevised rate. 

According to unadjusted data, the biggest increases in claims were seen in Kentucky (+6,248), California (+5,100), North Carolina (+4,053), Michigan (+2,227) and New York (+1,819) while the largest decline was registered in South Carolina (-1,839).

The advance number for seasonally adjusted insured unemployment during the week ending September 29 was 1,660,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up 6,000 from1,650,000 to 1,656,000. Figures came in line with market expectations. The 4-week moving average was 1,656,000, a decrease of 10,000 from the previous week's revised average. This is the lowest level for this average since August 18, 1973 when it was 1,646,750. The previous week's average was revised up by 1,500 from 1,664,500 to 1,666,000. 

 US Jobless Claims Unexpectadly Rise to 214K


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
10/11/2018 12:54:40 PM