US Jobless Claims Mark Pandemic-Low for Fifth Straight Week

Source: Department of Labor

US unemployment claims continued to fall, hitting the lowest level since the COVID-19 pandemic hit for the fifth straight week. DXY is up 0.32%, while Gold is up 1.82%.

• Initial claims for the week ending November 6 were recorded at 267,000, down 4,000 from the previous week’s 271,000. 
• The four-week moving average stood at 278,000, down 7,250 from the previous week’s 285,250. 
• The latest initial claims level is the lowest since March 14, 2020’s 256,00, while the four-week average is the lowest since March 14, 2020’s 225,500.
• The insured unemployment rate for the week ending October 30 stood at 1.6%, unchanged from the previous week.
• Insured unemployment was recorded at 2.160 million, up by 59,000 from the previous week’s 2.101 million.
• The biggest increases in initial claims were in Kentucky, Louisiana, Minnesota, Tennessee, and New Jersey.
• The largest declines were in Missouri, Florida, Virginia, Oklahoma, and Pennsylvania.