Jobless Claims fell for the fourth week in a row for the week ending October 23rd, according to the latest data from the Department of Labor…(DOL)
- Initial claims were 281,000, a decrease of 10,000 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 299,250, a decrease of 20,750 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020.
Continuing claims saw an almost 10% drop for the week ending October 16th…
- Continuing claims were 2,243,000, a decrease of 237,000 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 2,513,250, a decrease of 142,000 from the previous week’s revised average. This is the lowest level for this average since March 21, 2020 when it was 2,071,750.
Looking at the state level data, California saw the biggest drop in initial claims while Georgia led the way on continuing claims…
- The states with the biggest drop in initial claims were California (-7,843), Georgia (-4,684), Michigan (-2,669), and Texas (-1,778)
- The states with the biggest drop in continuing claims were Georgia (-72,686), California (-32,400), District of Columbia (-26,109), Virginia (-12,067), and Florida (-8,675).