Initial unemployment claims were well above.>

US DATA: Initial unemployment claims were well above expectations in the 

Oct 6 wk, +7k to 214k vs 206k expected. The impact of Hurricane Florence 

is seen in North and South Carolina's higher than average claims, but 

the headline level remains low. Next week's data will show the much 

larger impact from Hurricane Michael that hit Florida on Wednesday. 

- The 4-wk moving avg +2,500 to 209,500 in the Oct 6 wk. The avg would 

rise next week if there is no change to the headline figure as the 

recent-low 202,000 level in the Sept 15 week rolls out. Any 

hurricane-related gain in the headline figure would make the increase in 

the average even larger.

- NSA claims +33,613 to 199,166 in the current wk, below the 229,241 

level a year ago.

- Claims were estimated for Puerto Rico and Virginia.                                     

- Continuing claims +4k to 1.660m in the Sep 29 wk, while the 4-wk avg

-10,000 to 1.656m, low since Aug 18, 1973 week.