(Department of Labor) US jobless claims for the week ended October 23 was 281,000, down by 10,000 from the previous week.
The jobless claims are at the lowest since March 14, 2020. The previous week’s claims were revised up by 1,000 to 291,000.
On a 4-week moving average, jobless claims were 299,250, a 20,750 fall from the previous week.
Continuing claims declined by 237,000 to 2.243 million. On a 4-week moving average, the continuing claims fell by 142,000 to 2.5133 million.
The initial claims under state programs fell by 4.6% or 11,733 to a low of 245,482. The decline was a higher than expected fall of 0.8% or 2,123.
Initial claims rose the highest in California, Tennessee, Florida, Georgia, and Illinois. The states of Virginia, Michigan, Pennsylvania, Kentucky, and Ohio posted the largest declines in initial claims.
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