The number of Americans filling for unemployment benefits increased 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. 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). Initial Jobless Claims in the United States averaged 353.76 Thousand from 1967 until 2018, reaching an all time high of 695 Thousand in October of 1982 and a record low of 162 Thousand in November of 1968.
Initial Jobless Claims in the United States is expected to be 210.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Initial Jobless Claims in the United States to stand at 230.00 in 12 months time. In the long-term, the United States Initial Jobless Claims is projected to trend around 240.00 Thousand in 2020, according to our econometric models.