Job­less Claims Four-Week Av­er­age Hits 44-Year Low

The Bond Buyer - - Market News - — Gary E. Siegel

Ini­tial claims U.S. state un­em­ploy­ment ben­e­fits fell by 5,000 to 229,000 in the Oc­to­ber 28 week, well be­low the 235,000 level ex­pected and driv­ing the four-week av­er­age to a 44-year low, data re­leased by the La­bor Depart­ment Thurs­day showed.

The four-week mov­ing av­er­age for ini­tial claims, a bet­ter mea­sure of the un­der­ly­ing trend of the data, fell by 7,250 to 232,500 in the Oct. 28 week as the 258,000 level in the Sept. 30 week rolled out of the equa­tion. This marks the low­est point for the av­er­age since the April 7, 1973, week and con­firms that claims have re­turned to their pre-hur­ri­cane lev­els.

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