Weekly Jobless Claims Increased in the Week Ending 17th October 2020

The U.S. Department of Labor is reporting that an additional 787,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 17^th. A decrease of 55,000 from the previous week’s revised level. Jobless claims have now slipped below 800,000 for the first time since mid-March. The 4-week moving average was 811,250, a decrease of 21,500 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 10^th October was 8,373,000, a decrease of 1,024,000 from the previous week’s revised level. Continuing claims remain below 20 million for the thirteenth week in a row. The 4-week moving average was 10,085,750, a decrease of 1,093,500 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 5.7% for the week ending 10^th October, a decline of 0.7% from the previous week’s revised rates.