Jobless Claims fell for the third week in a row and reached the lowest level since before the pandemic, according to the latest data from the Department of Labor…(DOL)
- Initial jobless claims were 290,000, a decrease of 6,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020.
- The 4-week moving average was 319,750, a decrease of 15,250 from the previous week’s revised average. This is the also the lowest level since March 14, 2020.
Continuing claims also fell for the week ending October 9th, reaching levels not seen since before the pandemic…
- Continuing claims were 2,481,000, a decrease of 122,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 14, 2020
- The 4-week moving average was 2,655,500, a decrease of 84,750 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020.
The state data, as always, is a mixed bag…
- The states with the biggest increases week-over-week were California (+17,570), Tennessee (+1,049), Florida (+456), Georgia (+452), and Iowa (+170).
- The states with the largest decreases week-over-week were Virginia (-7, 159), Michigan (-4,457), Pennsylvania (-4,314), Texas (-3,246), and Ohio (-2,796)