US Jobless Claims Hit New Pandemic Low

Americans filing for unemployment benefits fell to a new pandemic low as the labor market continues to slowly recover from the coronavirus economic burdens. Initial claims by 1K to 268K in the week ended November 13th. Demand for workers remains strong. However claims remain above the 2019 weekly average of 218K. 

US initial jobless claims and continuing claims for current week

  • Initial jobless claims 12 Nov 268K vs 260K estimate. Prior week 267k revised to 269 This is the lowest level since March 14, 2021 it was 256K
  • 4 week moving average  272.75K versus 278.5K. This  is the lowest since March 14, 2020 when it was at 225.5K
  • Continuing Jobless Claims 5 Nov: 2.080M (est 2.120M; prev 2.160M; prevR 2.209M)
  • 4 week moving average of continuing claims 2.157K vs 2.257K last week. This is the lowest level since March 21, 2020
US Jobless Pandemic Lows

The largest increases in initial claims for the week ending November 6 :

Kentucky (+6,716), Ohio (+3,846), Tennessee (+2,411), Illinois (+1,893), and Michigan (+1,564), 

The largest decreases for the week ending November 6 :

California (-4,222), District of Columbia (-1,794), and Louisiana (-1,028).

Source: DOL

From The TradersCommunity US News Desk