U.S. Weekly Initial Jobless Claims Increased – in the Week Ending 5th October 2024

The U.S. Department of Labor on Thursday (10-10-24), reported its advance figure for seasonally adjusted initial unemployment claims made during the week ending Saturday, October 5, 2024, was 258,000, an increase of 33,000 from the previous week’s unrevised level of 225,000. This is the highest level for initial claims since August 5, 2023. The 4-week moving average was 231,000, an increase of 6,750 from the previous week’s unrevised levels of 224,250.

The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending September 28, 2024, was 1,861,000, an increase of 42,000 from the previous week’s downwardly revised total of 1,819,000, originally reported as 1,826,000. The 4-week moving average was 1,832,000, an increase of 4,500 from the previous week’s downwardly revised level of 1,827,500 originally reported as 1,829,250.

The advanced seasonally adjusted insured unemployment rate was 1.2% for the week ending September 28, unchanged from the previous week’s unrevised rate.