Jobless Claims Higher than Expected for Week Ending November 9

Initial jobless claims came in at a seasonally adjusted 225,000 for the week ending November 9, about 10,000 higher than forecasts expected. The 4-week average came in at 217,000.

Forecasts ranged from a low of 214,000 to a high of 215,000. The consensus forecast was 215,000.

Lagging Unemployment Claims Data

The advance seasonally adjusted insured unemployment rate remained unchanged at a very low 1.2% for the week ending November 2.

The advance number for seasonally adjusted insured unemployment came in at 1,683,000 for the week ending November 2, a decline of 10,000 from the previous week’s upwardly revised level (1,693,000). The 4-week moving average came in at 1,687,750, unchanged from the previous week’s revised 1,687,750.

No state was triggered “on” the Extended Benefits program during the week ending October 26.

The highest insured unemployment rates in the week ending October 26 were in Alaska (2.1), Puerto Rico (2.0), New Jersey (1.8), California (1.6), Connecticut (1.5), Pennsylvania (1.5), West Virginia (1.5), the Virgin Islands (1.4), Illinois (1.3), Massachusetts (1.3), and Washington (1.3).

The largest increases in initial claims for the week ending November 2 were in Illinois (+2,398), Colorado (+1,263), Pennsylvania (+1,030), Wisconsin (+916), and Montana (+762), while the largest decreases were in California (-1,749), Virginia (-1,517), Georgia (-1,048), New Jersey (-440), and Oregon (-235).