Initial Claims decreased by 20,000 to 512,000 claims for the week ending 10/31, better than the expected decrease to 524,000, following a revised level of 532,000 from the previous week. The 4-week moving average was 523,750, a decrease of 3,000 from the previous week’s moving average. Seasonally adjusted insured unemployment from the prior week, ending on 10/24, was 5,749,000, a decrease of 68,000 from the preceding week’s revised level, maintaining the seasonally adjusted insured unemployment rate at 4.4%. This release comes ahead of the October Unemployment Rate, which will be released tomorrow at 8:30 AM EST, and is expected to increase to 9.9% from a reported 9.8% rate for September.
Upcoming Releases
Unemployment Rate (11/06 at 8:30 AM EST)
Nonfarm Payrolls (11/06 at 8:30 AM EST)
Wholesale Inventories (11/06 at 10:00 AM EST)
Treasury Budget (11/12 at 2:00 PM EST)
