US jobless claims fall to lowest in 7 months

Applications for US unemployment benefits fell by 6,000 to 213,000 in the week ended Nov. 16.

 

This came contrary to expectations for 220,000 claims compared to the previous week's reading, which was revised up by 2,000 to 219,000 applications.

 

The four-week moving average for new jobless claims declined by 3,750 to 217,750, compared to last week’s average of 221,500.

 

This came shortly after the fluctuations seen by the US labor market due to the strike of Boeing workers, and the turmoil caused by the recent hurricanes.

 

Weekly US Jobless Claims

Item

Last Year

Previous Week

Latest Week

Change

Initial Claims (‘000)

213.0

219.0

213.0

(6)

Four-Week Average (‘000)

218.25

221.5

217.75

(3.75)

Total Beneficiaries (mln)

1.795

1.872

1.908

+0.036

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