Earlier the DOL reported:
In the week ending October 25, the advance figure for seasonally adjusted initial claims was 287,000, an increase of 3,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 283,000 to 284,000. The 4-week moving average was 281,000, a decrease of 250 from the previous week’s revised average.
There were no special factors impacting this week’s initial claims.
The previous week was revised up to 284,000.
The following graph shows the 4-week moving average of weekly claims since January 1971.
Click on graph for larger image.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 281,000.
This was close to the consensus forecast and suggests few layoffs.