Initial U.S. Jobless Claims Decline

Although hurricane-related jobless claims continued to rise in Louisiana, Mississippi and Texas, across the U.S. initial claims for unemployment insurance declined last week. For the week ending October 8, the seasonally adjusted number of initial claims was 389,000, some 2,000 fewer than the previous weeks revised figure of 391,000, the U.S. Labor Department reported on October 13.

The department's four-week moving average of initial claims, which many economists consider to be a better indicator of underlying labor market conditions because it smooths out week-to-week changes, also declined last week. The average was 395,750 claims, 8,750 fewer than the previous weeks unrevised average of 404,500.

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