US new jobless claims fall as continuing claims rise
New US unemployment insurance claims fell by 6,000 to 194,000 in the week ended October 17. Continuing claims, which cover the previous week, increased by 25,000 to 1,728,000. The Labor Department also revised earlier readings. Its weekly measures distinguish new applications from people continuing to claim benefits and use different reference periods.
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New unemployment insurance claims fall by 6,000
Initial US unemployment insurance claims fell by 6,000 to a seasonally adjusted 194,000 in the week ended October 17. The Department of Labor announced the figures on October 22. These initial claims count new applications for unemployment insurance after people become unemployed.[1], [2]
The previous week's estimate was revised up by 1,000, from 199,000 to 200,000. The four-week moving average declined by 1,000 to 197,750. Its preceding level was revised upwards by 250 to 198,750, so the new weekly comparisons use updated earlier estimates.[1]
Continuing claims increase in an earlier reference week
Continuing insured unemployment rose by 25,000 to a seasonally adjusted 1,728,000 in the week ended October 10. That series follows people continuing to claim benefits and covers a week earlier than the new-claims total. Its previous reading was revised down from 1,710,000 to 1,703,000.[1]
The four-week average of continuing claims increased by 4,000 to 1,711,000. Its prior level was revised down by 1,750 to 1,707,000. The insured unemployment rate remained at 1.1 per cent. It measures unemployment insurance claims rather than the economy-wide unemployment rate.[1]
Unadjusted claims and benefit totals cover different populations
Without seasonal adjustment, initial claims totaled 172,390 in the October 17 week, down 19,321 or 10.1 per cent. Seasonal factors had pointed to a decrease of 14,179 or 7.4 per cent. The comparable unadjusted total a year earlier was 205,653.[1]
Unadjusted insured unemployment increased by 18,771, or 1.3 per cent, to 1,481,260 in the October 10 week. Its rate stayed at 1.0 per cent, against 1,674,202 claimants and 1.1 per cent a year earlier. Across all benefit programmes, continued claims fell 40,033 to 1,485,572 in the October 3 week. No state was operating extended benefits.[1]
