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Weekly Initial Unemployment Claims Decrease to 281,000

The DOL reported:
In the week ending October 23, the advance figure for seasonally adjusted initial claims was 281,000, a decrease of 10,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week’s level was revised up by 1,000 from 290,000 to 291,000. The 4-week moving average was 299,250, a decrease of 20,750 from the previous week’s revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week’s average was revised up by 250 from 319,750 to 320,000.
emphasis added
The following graph shows the 4-week moving average of weekly claims since 1971.

Click on graph for larger image.

The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 299,250.

The previous week was revised up.

Regular state continued claims decreased to 2,243,000 (SA) from 2,480,000 (SA) the previous week.

Weekly claims were below consensus forecast.

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