Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Repeats Story Initially Transmitted at 13:30 GMT Nov 9/08:30 EST Nov 9
--Four-Week Moving Average -1,250 To 231,250, Low Since March 31, 1973
By Kevin Kastner, Sara Haire and Holly Stokes
WASHINGTON (MNI) - Initial claims U.S. state unemployment benefits
rose by 10,000 to 239,000 in the November 4 week, above the 230,000
level expected and driving the four-week average down to another 44-year
low, data released by the Labor Department Thursday showed.
The four-week moving average for initial claims, a better measure
of the underlying trend of the data, fell by 1,250 to 231,250 in the
November 4 week as the 244,000 level in the October 7 week rolled out of
the equation. This marks the lowest point for the average since 227,750
in the March 31, 1973 week and confirms that claims have returned to
their pre-hurricane levels.
If the number of headline claims does not change next week and
there are no revisions to data from the past four weeks, the four-week
average will rise by 4,000 as the recent low 223,000 level in the
October 14 week rolls out of the calculation.
The Labor Department reported that backlogged filings in Puerto
Rico continued to be processed, while claims in the Virgin Islands were
still "severely disrupted." Unadjusted claims in Puerto Rico totalled
8,137 in the current week after 6,124 in the previous week.
Seasonal adjustment factors had expected an increase of 7.5%, or
16,281, in unadjusted claims in the current week. Instead, unadjusted
claim rose by 25,793 to 241,568. The current week's level is still well
below the 258,608 level in the comparable week a year ago.
The level of continuing claims rose by 17,000 to 1.901 million in
the October 28 week, bouncing off their recent low. Unadjusted
continuing claims rose by 20,258 to 1.627 million in the week, still
well below the 1.763 million level a year earlier. The four-week moving
average for continuing claims fell by only 750 to 1.895 million, the
lowest level since 1.881 million in the January 12, 1974 week.
The seasonally adjusted insured unemployment rate rose to 1.4% in
the October 28 week from 1.3% in the previous week. The current week's
rate is down from 1.5% in the same week a year earlier.
The unemployment rate among the insured labor force is well below
that reported monthly by the Labor Department because claims are
approved for the most part only for job losers, not the job leavers and
labor force reentrants included in the monthly report.
** MNI Washington Bureau: 202-371-2121 **