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 17th. 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 10th 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 10th October, a decline of 0.7% from the previous week’s revised rates.
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Weekly Jobless Claims Increased in the Week Ending 17th October 2020