US Weekly Jobless Claims Climb Higher in the Week Ending October 28th

The US Department of Labor reported on Thursday (11-2-23) that the advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending Saturday, October 28th. This is an increase of 5,000 from the previous week’s revised level of 212,000 (originally reported as 210,000). The 4-week moving average was 210,000—an increase of 2,000 from the previous week’s revised average of 208,000 (originally reported as 207,500).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending October 21st was 1,818,000. This is an increase of 35,000 from the previous week’s revised level of 1,783,000 (originally reported as 1,790,000). The 4-week moving average was 1,758,250—an increase of 36,500 from the previous week’s revised average of 1,721,750 (originally reported as 1,723,500).

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending October 21st, unchanged from the previous week’s unrevised rate.