US initial jobless claims and continuing claims for the current week

US initial claims
  • prior week 290K (lowest level since March 14, 2020) revised to 291K
  • initial jobless claims 281K vs 290K estimate. Lowest level since March 14, 2020 when it was at 256K.
  • 4 week moving average of initial jobs claims 299.25K vs last week 320K last week. This is the lowest since March 14, 2020.
  • Continuing claims 2243K. The lowest level since March 14 2020 when it was 1777K
  • 4 week moving average of continuing claims 2513.25K vs last week's 2655.25K. This is the lowest level since March 21, 2020
  • The largest increases in initial claims for the week ending October 16 were in California (+9,748), Tennessee (+1,688), Florida (+1,266), Georgia (+1,088), and Illinois (+512),
  • The largest decreases were in Virginia (-7,380), Michigan (-4,083), Pennsylvania (-4,033), Kentucky (-2,753), and Ohio (-2,287).

The claims data is moving lower. Last week was the first dip below the 300,000 level. Today, the index continues are trying to the low 280s.