Continuing the trend this week for jobs data, initial jobless claims were better than economists were expecting, according to the latest data from the Department of Labor
- Seasonally adjusted initial claims was 217,000, a decrease of 1,000 from the previous week’s revised level.
- Economists projected that claims would rise to 220k
States. The slight drop in claims was thanks to Florida that reported 1,832 fewer claims for the week ending October 29th followed by Kentucky (-1,005) and North Carolina (-812)
- California reported the biggest uptick with 2,535 more claims week-over-week.
Continuing claims. Seasonally adjusted insured unemployment was up for the week ending October 22 with claims rising by 47,000 to 1,485,000.