US Jobless Claims Lowest in 6 Weeks
Initial Jobless Claims in the United States decreased by 15 thousand to 243 thousand in the week ending October 7th returning to levels seen before hurricanes Harvey and Irma affected Texas, Florida and Georgia. Economists had expected jobless claims to go down to 251 thousand and data for the prior week was revised to show 2 thousand fewer applications received than previously reported.
The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending September 30, a decrease of 0.1 percentage point from the previous week's unrevised rate.
The advance number for seasonally adjusted insured unemployment (continuing jobless claims) during the week ending September 30 was 1,889,000, a decrease of 32,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 29, 1973 when it was 1,805,000. The previous week's level was revised down by 17,000 from 1,938,000 to 1,921,000.
The 4-week moving average, a less-volatile measure than the weekly figure, was 1,925,000, a decrease of 11,500 from the previous week's revised average. The previous week's average was revised down by 10,500 from 1,947,000 to 1,936,500.
10/12/2017 12:45:58 PM