After two weeks of increases, jobless claims fell for the week ending October 15th, according to the Department of Labor’s weekly survey.
- The advance figure for seasonally adjusted initial claims was 214,000, a decrease of 12,000 from the previous week’s revised level and lower than economist predictions of an increase to 232k.
- Florida saw the biggest drop with 3,856 fewer claims followed by New York (-2,963), California (-2,354), and Missouri (-1763).
Continuing Claims. The advance number for seasonally adjusted insured unemployment for the week ending October 8 was 1.385M, an increase of 21,000 from the previous week’s revised level.
As the labor market continues to defy the recession narrative Neil Irwin noted on Twitter, “Only 214k initial jobless claims last week. 4-week average at 212k. Very strange recession, this”
