The weekly initial jobless and continuing claimsIinitial jobless claims
- Initial jobless claims 218K vs 215K estimate. Prior week 213K vs 212K estimate
- Initial jobless claims 4-week moving average 214.75K vs 215.25K
- Continuing claims 1690K vs 1679K estimate. The prior week was 1683K vs 1682K estimate
- Continuing claims 4-week moving average 1686.25K vs 1677.5K last week.
- The largest increases in initial claims for the week ending October 19 were in Oregon (+418), Ohio (+358), Iowa (+179), North Carolina (+155), and Hawaii (+148),
- The largest decreases were in New York (-2,931), Texas (-1,284), Michigan (-1,087), Oklahoma (-1,052), and California (-991).
Another solid report. Tomorrow the US monthly employment statistics will be released with Non Farm payroll estimated at 85K vs 136K last month. The report will be impacted by about 45 layoffs due to the GM strike (which is now over but was impacted in the survery week). The unemployment rate is expected to tick up to 3.6% from 3.5%. The report will be released at 8:30 AM ET on Friday.
Below is a chart of the steady trends in the initial claims for unemployment.
