US Weekly Jobless Claims Decline in the Week Ending November 4th

The US Department of Labor reported on Thursday (11-9-23) that the advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending Saturday, November 4th. This is a decrease of 3,000 from the previous week’s revised level of 220,000 (originally reported as 217,000). The 4-week moving average was 212,250—an increase of 1,500 from the previous week’s revised average of 210,750 (originally reported as 210,000).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending October 28th was 1,834,000. This is an increase of 22,000 from the previous week’s revised level of 1,812,000 (originally reported as 1,818,000). The 4-week moving average was 1,789,000—an increase of 32,250 from the previous week’s revised level of 1,756,750 (originally reported as 1,758,250).

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