American Jobless Claims Hit Pandemic Low for Fourth Straight Week

Source: Department of Labor

US unemployment claims continued to decline to hit the lowest level since the COVID-19 pandemic hit for the fourth straight week. DXY is up 0.51%, and Gold is up 1.53%.

• Seasonally adjusted initial claims for the week ending October 30 stood at 269,000, down 14,000 from the previous week’s revised level of 283,000.
• This is the lowest reading for initial claims since March 14, 2020, when the level stood at 256,000.
• The four-week moving average fell by 15,000 to 284,750, also the lowest level since March 14, 2020’s 225,500.
• The seasonally adjusted insured unemployment rate for the week ending October 23 was 1.6%, down 0.1 percentage points from the past week.
• Insured unemployment was recorded at 2.105 million, down 134,000 from the previous week’s 2.239 million, the lowest since March 14, 2020’s 1.770 million.
• The biggest climbs were in the District of Columbia, Kentucky, Missouri, Florida, and Oklahoma.
• The largest declines were in California, Georgia, Michigan, Pennsylvania, and Tennessee.