US Jobless Claims Fall More than Expected


The number of Americans filling for unemployment benefits decreased by 5 thousand to 210 thousand in the week ended October 13th from the previous week's upwardly revised level of 215 thousand. Figures came below market expectations of 212 thousand. Claims for South and North Carolina continue to be affected by the effects of Hurricane Florence while in Florida they were impacted by Hurricane Michael.

The 4-week moving average was 211,750, an increase of 2,000 from the previous week's revised average. The previous week's average was revised up by 250 from 209,500 to 209,750. 

According to unadjusted data, the largest declines in claims were registered in Kentucky (-6,257), North Carolina (-2,900), Michigan (-2,239), Georgia (-1,086), Illinois (-1,010), South Carolina (-792) and Florida (-649) while the biggest rises were seen in California (+3,144) and Wisconsin (+627).

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending October 6, unchanged from the previous week's unrevised rate. 

The advance number for seasonally adjusted insured unemployment during the week ending October 6 was 1,640,000, a decrease of 13,000 from the previous week's revised level. This is the lowest level for insured unemployment since August 4, 1973 when it was 1,633,000. The previous week's level was revised down by 7,000 from 1,660,000 to 1,653,000. Figures came below market expectations of 1,665,000. The 4-week moving average was 1,653,000, a decrease of 1,250 from the previous week's revised average. This is the lowest level for this average since August 18, 1973 when it was 1,646,750. The previous week's average was revised down by 1,750 from 1,656,000 to 1,654,250.

US Jobless Claims Fall More than Expected


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
10/18/2018 1:13:40 PM