Weekly Jobless Claims Decline for the Week Ending October 3rd, 2020

The U.S. Department of Labor is reporting that an additional 840,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 3rd. A decrease of 9,000 from the previous week’s revised level. Jobless claims have remained above 800,000 every week since mid-March. The 4-week moving average was 857,000, a decrease of 13,250 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending September 26th was 10,976,000, a decrease of 1,003,000 from the previous week’s revised level. Continuing claims remain below 20 million for the eleventh week in a row. The 4-week moving average was 12,112,250, a decrease of 642,000 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 7.5% for the week ending 26^th September, a decline of 0.7% from the previous week’s revised averages.