US Weekly Jobless Claims Decline for the Week Ending October 15th

The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 214,000 during the week ending on Saturday, October 15, 2022; this is a decrease of 12,000 from the previous week’s revised level of 226,000 (originally reported as 228,000). The 4-week moving average was 212,250—an increase of 1,250 from the previous week’s revised level of 211,000 (originally reported as 211,500).

The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending October 8, 2022, was 1,385,000; this is an increase of 21,000 from the previous week’s revised level of 1,364,000 (originally reported as 1,368,000). The 4-week moving average was 1,365,000—an increase of 2,250 from the previous week’s revised average of 1,362,750 (originally reported as 1,363,750).

The advance seasonally adjusted insured unemployment rate was 1.0% for the week ending October 8, 2022, an increase of 0.1% from the previous week’s revised rate. The previous week’s rate was revised lower by 0.1% to a reading of 0.9%.