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 26th September, a decline of 0.7% from the previous week’s revised averages.
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