American Jobless Claims Down for Second Straight Week to New Pandemic-Low

Source: Department of Labor

US unemployment claims fell for the second straight week to mark the lowest level since the COVID-19 pandemic hit. DXY is down 0.13%, while Gold is up 0.34%.

• Seasonally adjusted initial claims for the week ending October 9 fell by 36,000 to 293,000. This is the lowest level since March 14, 2020’s 256,000.
• The previous week’s level was revised 3,000 up to 329,000 from 326,000.
• The four-week moving average stood at 334,250, 10,500 lower than the previous week’s 334,750. This is the lowest since March 14, 2020’s 225,500.
• The advance seasonally adjusted insured unemployment rate for the week ending October 2 was 1.9%, 0.1 percent points lower than the previous week.
• Insured unemployment for the week fell by 134,000 to 2.953 million, the lowest since reaching 1.770 million on March 14, 2020.
• The biggest gain was recorded in Pennsylvania, while the biggest declines were in California, the District of Columbia, Michigan, Missouri, and Texas.