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US: Weekly initial claims was 222,000, a decrease of 22,000 from previous week
"In the week ending October 14, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 22,000 from the previous week's revised level," the US Department of Labor said anounced on Thursday.
Key highlights:
- This is the lowest level for initial claims since March 31, 1973 when it was 222,000.
- The previous week's level was revised up by 1,000 from 243,000 to 244,000.
- The 4-week moving average was 248,250, a decrease of 9,500 from the previous week's revised average.
- Claims taking procedures continue to be severely disrupted in Puerto Rico and the Virgin Islands as a result of power outages and infrastructure damage caused by Hurricanes Irma and Maria.
- The advance seasonally adjusted insured unemployment rate was 1.3 percent for the week ending October 7, a decrease of 0.1 percentage point from the previous week's revised rate.
- The advance number for seasonally adjusted insured unemployment during the week ending October 7 was 1,888,000, a decrease of 16,000 from the previous week's revised level.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
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