US Initial Jobless Claims at 5-Week High of 260K

The number of Americans filing for unemployment benefits rose to 260,000 in the week ended October 15th, above market expectations of 250,000 and reaching the highest in five weeks. Yet, it marks the 85th consecutive week initial claims are below 300,000, the longest streak since 1970 and signaling the labour market strength.
DOL | Joana Taborda | joana.taborda@tradingeconomics.com
10/20/2016 12:54:58 PM
The previous week's level was revised up by 1,000 to 247,000. The 4-week moving average which smooths out week-to-week volatility in the claims data rose by 2,250 to 251,750. The previous week's average was revised up by 250 from 249,250 to 249,500.

On an unadjusted basis, the biggest increases in initial claims were recorded in Kentucky (up by 5,621); California (up by 3,028); Michigan (up by 2,721); North Carolina (up by 2,520), one of the zones hit by Hurricane Matthew and New York (up by 2,272). In contrast, Pennsylvania (-4,164) and Missouri (-1,988) recorded the biggest declines in initial claims. 

The advance seasonally adjusted insured unemployment rate was 1.5 percent for the week ending October 8, unchanged from the previous week's unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending October 8 rose by 7,000 to 2,057,000. The previous week's level was revised up 4,000 from 2,046,000 to 2,050,000.

The 4-week moving average was 2,058,250, a decrease of 12,750 from the previous week's revised average. This is the lowest level for this average since July 8, 2000 when it was 2,056,250. The previous week's average was revised up by 1,000 from 2,070,000 to 2,071,000. 

US Initial Jobless Claims at 5-Week High of 260K