US: Weekly initial claims was 229,000, a decrease of 5,000 from previous week

Eren Sengezer FXStreet

"In the week ending October 28, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 5,000 from the previous week's revised level," the US Department of Labor said anounced on Thursday.

Key highlights

The 4-week moving average was 232,500, a decrease of 7,250 from the previous week's revised average.
This is the lowest level for this average since April 7, 1973 when it was 232,250.
The previous week's average was revised up by 250 from 239,500 to 239,750.
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 number for seasonally adjusted insured unemployment during the week ending October 21 was 1,884,000, a decrease of 15,000 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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