U.S. Job­less Claims Dip as Im­pact of Hur­ri­cane Wanes

The Bond Buyer - - Market News -

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.

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