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Jobless Claims: Another Bounce Higher But Trend Remains

November 3, 2016
Bottom Line: Initial claims climbed modestly and are at their highest level since early August. Claims in Kentucky remain very volatile - nearly doubling again and accounting for 4k of the increase in the national tally last week. The 4-week average is at 258k, now naerly equall to the 13-week average . But with the 13-week average still falling, the trend remains towards continued improvement in labor markets.

Jobless Claims ROSE by 7k during the week ended October 29th, 265k, compared with market expectations for a decline to 256k. The prior week was revised slightly higher from 258k to 261k. The 4-week average ROSE by 4.8k to 258k and the 13 week average FELL by 0.2k to 258k.

Continuing Claims FELL by 14k during the week ended October 22nd to 2,026k, after the prior week was revised slightly higher from 2,039k to 2,040k.The 4-week average FELL by 9k to 2,043k.

On a non-seasonally adjusted basis, Continuing Claims FELL by 3k to 1,738k during the week ended October 15th.

The Insured Jobless Rate STAYED at 1.5% during the week ended October 22nd. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.