U.S. initial jobless claims in the week ending October 17 were 787,000, a decline of 55,000 from the previous week’s revised level and down from expected 870,000, according to a Department of Labor press release. Continuing claims were 8.37 million, down from the expected 9.63 million.
- 4-week continuing claims average revised lower to 866,250 from 866,300 compared to prior 857,000.
- Prior initial jobless claims revised lower from 898,000 to 842,000.
- Prior continuing claims revised lower from 10.108 million to 9.397 million.
- 4-week moving average was 811,250, down 21,500 from the previous week’s revised average.
- Unadjusted advance actual initial claims under state programs were 756,617, a decrease of 8.8% or 73,125 from the previous week.
U.S. stocks are declining. SPY is down 0.24%, DIA is down 0.25%, QQQ:NASDAQ is down 0.56%
