Updated: 15-Oct-20 09:13 ET
| Initial Claims for the Week Ended Oct 10 |
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| Updated: 15-Oct-20 09:13 ET |
Highlights
- Initial claims for the week ending October 10 increased by 53,000 to 898,000 (Briefing.com consensus 830,000).
- Continuing claims for the week ending October 3 declined by 1.165 million to 10.018 million.
Key Factors
- The four-week moving average for initial claims increased by 8,000 to 866,250. This average stood at 215,750 in the same week a year ago.
- The four-week moving average for continuing claims decreased by 682,250 to 11,481,750. This average stood at 1,681,500 in the same week a year ago.
- The advance unadjusted insured unemployment rate was 6.6% for the week ending October 3, down from 7.4% in the prior week.
- The total number of people claiming benefits in all programs for the week ending September 26 was 25,290,325, versus 1,415,539 in the same week a year ago.
Big Picture
- The key takeaway from the report is that the exceedingly high level of initial claims will contribute to the view that the recovery in the labor market is slowing and speaks to the need for more stimulus to keep it from getting worse.
| Category | Oct 10 | Oct 3 | Sep 26 | Sep 19 | Sep 12 |
| Initial Claims | 898K | 845K | 849K | 873K | 866K |
| 4-Wk Moving Avg | 866K | 858K | 870K | 879K | 914K |
| Continued Benefits | 10018K | 11183K | 11979K | 12747K | |
| 4-Wk Moving Avg | 11482K | 12164K | 12754K | 13083K |
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