Weekly Jobless Claims Continued Their Decline in the Week Ending November 7th, 2020

The U.S. Department of Labor is reporting that an additional 709,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday November 7^th. A decrease of 48,000 from the previous week’s revised level. The 4-week moving average was 755,250, a decrease of 33,250 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending October 31st was 6,786,000, a decrease of 709,000 from the previous week’s revised level. The 4-week moving average was 9,053,250 a decrease of 436,000 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 4.6% for the week ending October 31st a decline of -0.3% from the previous week’s revised averages.