Better last claims report before employment number

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The Department of Labor data released this morning indicated that 512,000 people filed initial claims for unemployment insurance in the latest week.  This is down 20,000 from last week and marks the last data points we are to get on employment before tomorrows employment numbers are released.

All indications are that the number will come in around the 200,000 job loss range. Wednesday’s ADP number of –203,000 jobs is consistent with this. Stock futures rallied on the data and the Dow is up about 80 points in early trading.

Nonetheless, 512,000 weekly claims is still very high.

UNEMPLOYMENT INSURANCE DATA FOR REGULAR STATE PROGRAMS


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Advance

 

 

 

Prior1

WEEK ENDING

Oct. 31

Oct. 24

Change

Oct. 17

Year


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1 of 1,545

Initial Claims (SA)

512,000

532,000

-20,000

531,000

488,000

Initial Claims (NSA)

480,178

494,394

-14,216

460,430

466,341

4-Wk Moving Average (SA)

523,750

526,750

-3,000

532,250

480,250

 

Advance

 

 

 

Prior1

WEEK ENDING

Oct. 24

Oct. 17

Change

Oct. 10

Year


Ins. Unemployment (SA)

5,749,000

5,817,000

-68,000

5,945,000

3,859,000

Ins. Unemployment (NSA)

4,915,719

4,984,950

-69,231

4,916,574

3,310,892

4-Wk Moving Average (SA)

5,886,250

5,965,750

-79,500

6,039,500

3,785,750


Ins. Unemployment Rate (SA)2

4.4%

4.4%

0.0

4.5%

2.9%

Ins. Unemployment Rate (NSA)2

3.7%

3.8%

-0.1

3.7%

2.5%

Source

Weekly Unemployment Claims Report – ETA Press Releases

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