The DOL reported:
In the week ending October 9, the advance figure for seasonally adjusted initial claims was 293,000, a decrease of 36,000 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 3,000 from 326,000 to 329,000. The 4-week moving average was 334,250, a decrease of 10,500 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 750 from 344,000 to 344,750.
The following graph shows the 4-week moving average of weekly claims since 1971.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 334,250.
The previous week was revised up.
Regular state continued claims decreased to 2,593,000 (SA) from 2,727,000 (SA) the previous week.
Weekly claims were lower than the consensus forecast.