Initial unemployment claims were on target..>

US DATA: Initial unemployment claims were on target with expectations in 

the Oct 13 employment survey wk, -5k to 210k, though the impact of 

Hurricane Michael will likely push claims higher with next week's data. 

The impact of Hurricane Michael is not yet clear in unadjusted claims 

for Florida, -649 from last week, but should rise as displaced workers

return to affected areas.

- Claims were at a level of 202k in the Sep 15 employment survey wk, so 

the month/month comparison is a negative for payrolls.

- The 4-wk moving avg +2,000 to 211,750 in the Oct 13 wk, above the 

206,000 level in Sep survey week. The avg would fall further next week 

if there is no change to the headline figure, but the hurricane impact 

makes that unlikely.

- NSA claims -9,847 to 190,017 in the current wk, well below the 

205,592 level a year ago. Comparisons should be less favorable in the 

coming weeks when this year's storms roll into the data.

- Claims were not estimated for any states.                                     

- Continuing claims -13k to 1.640m in the Oct 6 wk, the lowest since the

Aug 4, 1973 wk (1.633), while the 4-wk avg -1,250 to 1.653m.