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HomeNewsEconomyJobless Claims 4-Week Average Lowest Since March 31, 1973

Jobless Claims 4-Week Average Lowest Since March 31, 1973

Jobless claims, an application for first-time unemployment benefits. (Photo: Reuters)
Jobless claims, an application for first-time unemployment benefits. (Photo: Reuters)

Jobless claims, an application for first-time unemployment benefits. (Photo: Reuters)

The Labor Department said Thursday first-time jobless claims rose by 10,000 to a seasonally adjusted 239,000 for the week ending November 4.

The 4-week moving average came in at 231,250, a decline of 1,250 from the previous week’s unrevised average of 232,500. The average–widely seen as a better gauge, as it irons out weekly volatility–is the lowest level for this average since March 31, 1973 when it was 227,750.

(Correction: A previous version of the article state March 31, 2973. Obviously, that was incorrect.)

No state was triggered “on” the Extended Benefits program during the week ending October 21.

The highest insured unemployment rates in the week ending October 21 were in Puerto Rico (2.8), Alaska (2.7), the Virgin Islands (2.2), New Jersey (2.1), California (1.8), Connecticut (1.8), Pennsylvania (1.6), the District of Columbia (1.5), Illinois (1.5),Massachusetts (1.5), and Nevada (1.5).

The largest increases in initial claims for the week ending October 28 were in Puerto Rico (+2,677), California (+1,412), Ohio (+823), Indiana (+753), and Michigan (+640), while the largest decreases were in Georgia (-1,531), Florida (-1,263), Kentucky (-876), Missouri (-832), and New York (-786).

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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