US Weekly Jobless Claims Increase for the Week Ending October 22nd

The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending on Saturday, October 22, 2022; this is an increase of 3,000 from the previous week’s unrevised level of 214,000. The 4-week moving average was 219,000—an increase of 6,750 from the previous week’s unrevised level of 212,250.

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending October 15, 2022, was 1,438,000; this is an increase of 55,000 from the previous week’s revised-lower level of 1,383,000 (originally reported as 1,385,000). The 4-week moving average was 1,387,500—an increase of 23,000 from the previous week’s revised-lower average of 1,364,000 (originally reported as 1,364,500).

The advance seasonally adjusted insured unemployment rate was 1.0% for the week ending October 15, 2022, unchanged from the previous week’s unrevised rate.