US: Weekly initial claims was 222,000, a decrease of 22,000 from previous week

Eren Sengezer FXStreet

"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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