Jobless Claims Drop to Lowest Level Since 1973



According to the Department of Labor, the advance seasonally adjusted insured unemployment rate was 1.1% for the week ending October 20, unchanged from the previous week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending October 20 was 1,631,000, a decrease of 7,000 from the previous week’s revised level.

This is the lowest level for insured unemployment since July 28, 1973 when it was 1,603,000. The previous week’s level was revised up 2,000 from 1,636,000 to 1,638,000.

The 4-week moving average was 1,640,750, a decrease of 6,250
from the previous week’s revised average. This is the lowest level for this average since August 11, 1973 when it was 1,627,250. The previous week’s average was revised up by 500 from 1,646,500 to 1,647,000.

In the week ending October 27, the advance figure for seasonally adjusted initial jobless claims was 214,000, a decrease of 2,000 from the previous week’s revised level.

The previous week’s level was revised up by 1,000 from 215,000 to 216,000. The four-week moving average was 213,750, an increase of 1,750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 211,750 to 212,000.


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