U.S. Jobless Claims Dip as Impact of Hurricane Wanes
Initial claims U.S. state unemployment benefits fell by 1,000 to 214,000 in the Nov. 3 week, sabove expectations for a 213,000 level and showing diminishing signs of an impact from Hurricane Michael in Florida and Georgia, data released by the Labor Department Thursday showed.
Unadjusted claims were down 1,496 in Florida and down 617 in Georgia, but could increase in the coming weeks as workers return to the affected areas. Still, it appears that the impacts from Hurricane Michael continue to fade.
A better measure for the underlying trend of the data is the four-week moving average for initial claims. The average fell by 250 to 213,750.
The level of continuing claims fell by 8,000 to 1.623 million in the Oct. 27 week, the lowest level since the July 28, 1973 week.