Last week marked the 141st straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was smaller.
The 4-week moving average was 237,750, an increase of 6,500 from the previous week's unrevised average of 231,250.
Claims taking procedures continue to be severely disrupted in the Virgin Islands. The ability to take claims has improved in Puerto Rico and they are now processing backlogged claims.
The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending November 4, 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 November 4 was 1,860,000, a decrease of 44,000 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 up 3,000 from 1,901,000 to 1,904,000. The 4-week moving average was 1,887,000, a decrease of 9,000 from the previous week's revised average. This is the lowest level for this average since January 12, 1974 when it was 1,881,000. The previous week's average was revised up by 750 from 1,895,250 to 1,896,000.