**MNI 5 THINGS: US Claims Above-Expected 224k; High Since June>

--5 Things We Learned From the November 17 Claims Data

By Kevin Kastner

     WASHINGTON (MNI) - The following are the key points from the weekly 

US unemployment insurance claims data for the November 17 survey week 

released by the Labor Department Wednesday: 

     - The initial claims data rose by 3,000 to 224,000 in the November 

17 employment survey week, above expectations for a 215,000 level in an 

MNI survey. This followed an upward revision to a 221,000 level in the 

November 10 week from the 216,000 level previously reported and puts 

claims at the highest level since late June.

     - Seasonal adjustment around the Veteran's Day holiday, which 

occurred in the November 17 week, may be to blame for the recent spike. 

It will remain to be seen if claims hold at this level. Noise from the 

Thanksgiving holiday and the wildfires in California will make the true 

claims trend hard to interpret. 

     - The level of initial claims was up 14,000 from the 210,000 level 

in the October 13 employment survey week, but still represents a tight 

labor market. The claims data do not directly translate into stronger 

payrolls gains, but are certainly a positive factor. 

     - The four-week moving average rose by 2,000 to 218,500 this week, 

the highest level since mid-July. The average was up 6,750 from the 

211,750 average in the October 13 employment survey week and would be 

expected to rise further next week as the 215,000 level in the October 

27 week rolls out of the equation. 

     - Continuing claims fell by 2,000 to 1.668m in the November 10 

week, while the four-week average rose by 7,500 to 1.650m. The insured 

unemployment rate was 1.2%, unchanged from the previous week, but down 

from 1.4% in the same week a year ago. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]