US Jobless Claims Unexpectedly Rise to 216K



The number of Americans filling for unemployment benefits rose by 2 thousand to 216 thousand in the week ending November 10 from the previous week's unrevised level of 214 thousand while markets had expected a drop to 212 thousand. However, the Veterans Day holiday was observed on Monday which could have influenced the data. 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 215,250, an increase of 1,500 from the previous week's unrevised average of 213,750. 

According to unadjusted data, the biggest rises in claims were seen in California (+3,735), New York (+3,682), New Jersey (+2,801) and Minnesota (+2,154) while the largest declines were registered in Michigan (-3,913), North Carolina (-1,670) and Texas (-1,246). New applications for US unemployment aid also went up in Georgia (+807) but they fell in Florida (-337).

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending November 3, an increase of 0.1 percentage point from the previous week's unrevised rate. 

The advance number for seasonally adjusted insured unemployment during the week ending November 3 was 1,676,000, an increase of 46,000 from the previous week's revised level. The previous week's level was revised up 7,000 from 1,623,000 to 1,630,000. Figures came above market forecasts of 1,630,000. The 4-week moving average was 1,643,750, an increase of 8,750 from the previous week's revised average. The previous week's average was revised up by 1,750 from 1,633,250 to 1,635,000. 

US Jobless Claims Unexpectedly Rise to 216K


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/15/2018 2:04:46 PM