Weekly Initial Unemployment Claims increased to 214,000
The DOL reported:
In the week ending October 6, the advance figure for seasonally adjusted initial claims was 214,000, an increase of 7,000 from the previous week's unrevised level of 207,000. The 4-week moving average was 209,500, an increase of 2,500 from the previous week's unrevised average of 207,000.The previous week was unrevised.
The following graph shows the 4-week moving average of weekly claims since 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 increased to 209,500.
This was higher than the the consensus forecast. The low level of claims suggest few layoffs.