Jobless Claims Fall to 212K for Week Ending October 19

Initial jobless claims fell more than expected to a seasonally adjusted 212,000 for the week ending October 19, beating the consensus forecast. The 4-week moving average fell 750 to 215,000.

Forecasts ranged from a low 200,000 to a high of 218,000. The consensus forecast was 214,000.

In lagging data, the advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending October 12. The advance number for seasonally adjusted insured unemployment fell 1,000 during the week ending October 12 to 1,682,000.

The 4-week moving average was 1,677,250, an increase of 6,500 from the upwardly revised figure of 1,670,750.

No state was triggered “on” the Extended Benefits program during the week ending October 5.

The highest insured unemployment rates in the week ending October 5 were in Puerto Rico (2.0), New Jersey (1.8), Alaska (1.7), California (1.5), Connecticut (1.5), Pennsylvania (1.4), the Virgin Islands (1.3), and West Virginia (1.3).

The largest increases in initial claims for the week ending October 12 were in California (+6,856), New York (+3,147), Oklahoma (+982), Pennsylvania (+596), and Michigan (+464), while the largest decreases were in Illinois (-922), North Carolina (-544), Arkansas (-385), Ohio (-255), and South Carolina (-202).