US Jobless Claims Drop to 214K in Latest Week



The number of Americans filling for unemployment benefits dropped by 1 thousand to 214 thousand in the week ending November 3 from the previous week's upwardly revised level of 215 thousand, matching market expectations. Claims for North Carolina continued to be affected by Hurricane Florence while in Florida and Georgia they were impacted by Hurricane Michael.

The 4-week moving average was 213,750, a decrease of 250 from the previous week's revised average. The previous week's average was revised up by 250 from 213,750 to 214,000. 

According to unadjusted data, the biggest decreases were reported in Illinois (-3,126), Missouri (-3,030) and Florida (-1,496) while the largest rises were seen in Michigan (+4,468), California (+3,381), Pennsylvania (+2,740) and Ohio (+1,826). New applications for US unemployment aid also fell in Georgia (-617) but they increased in North Carolina (+940).

The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week ending October 27, unchanged from the previous week's unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending October 27 was 1,623,000, a decrease of 8,000 from the previous week's unrevised level of 1,631,000. This is the lowest level for insured unemployment since July 28, 1973 when it was 1,603,000. It compares with market expectations of 1,635,000. The 4-week moving average was 1,633,250, a decrease of 7,500 from the previous week's unrevised average of 1,640,750. This is the lowest level for this average since August 11, 1973 when it was 1,627,250. 


US Jobless Claims Drop to 214K in Latest Week


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/8/2018 2:29:00 PM