US Unemployment Claims Fall to Four-Week Low

Source: Department of Labor

American unemployment claims retreated after three straight weeks of increases, marking the lowest level in a month. DXY is down 0.17%, while Gold is down 0.15%.

• Initial claims for the week ending October 2 stood at 326,000, down 38,000 from the previous week’s revised level to 364,000.
• The four-week moving average increased by 3,500 to 344,000 from the previous week’s revised average of 340,500.
• Insured unemployment for the week ending September 25 stood at 2.0%, down 0.1 percentage points from the previous week’s revised rate of 2.1%.
• Insured unemployment for the week fell 97,000 to 2.714 million. This is the lowest level since March 14, 2020’s 1.770 million.
• The biggest jumps in initial claims for the week were recorded in California, Michigan, Texas, the District of Columbia, and Minnesota.
• The largest declines were in Virginia, Maryland, Arizona, Louisiana, and Ohio.