US initial jobless claims 290K versus 300K estimate

Jobs claims and continuing claims for the current week

• Prior week 293K revised to 296K
  
• Jobless claims 290K versus 300K estimate. This is the lowest level since March 14, 2020
  
• Four week moving average jobless claims 319.75K versus 335K last week. This is the lowest average since March 14, 2020
  
• Continuing claims 2.481M versus 2.593M last week. This is the lowest level since March 14, 2021 at 1.770K
• The four week moving average continuing claims 2.655M vs  2.740M last week.  This was the lowest since March 21, 2020
  
• The largest increases in initial claims for the week ending October 9 were in Michigan (+3,673), Missouri (+2,566), Maryland (+2,337), New Mexico (+2,012), and Kentucky (+1,454) 
• The largest decreases were in Tennessee (-989), California (-851), Florida (-839), New Jersey (-464), and Alabama (-301). 
  

The claims data does correspond with the survey week for the monthly employment numbers. The trend is lower and should have analysts looking for stronger jobs growth next month.  
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October 22, 2021 at 12:30AM

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