Initial Jobless Claims Below 400,000 for Second Week

Jobless claims fell to their lowest level in seven months in the week ending Nov. 5, the Labor department announced. The advance figure for seasonally adjusted initial claims was 390,000, a decrease of 10,000 from the previous week’s revised figure of 400,000, the lowest level since April 16. The four-week moving average, a less volatile number that flattens out week-to-week fluctuations in the data, was 400,000, a decrease of 5,250 from the previous week’s revised average of 405,250. The number of Americans filing for continuing unemployment claims during the week ending Oct. 29 was 3,615,000, a decrease of 92,000 from the preveding week’s revised level of 3,707,000. The four-week moving average was 3,690,250, a decrease of 19,500 from the preceding week’s revised average of 3,709,750. States reported 2,953,824 persons claiming emergency unemployment benefits in the week ended Oct. 22 (the most recent data available), an increase of 8,182 from the prior week. The total number of people claiming benefits in all programs ending Oct. 22 was 6,835,604, an increase of 51,900 from the previous week. The largest increases in initial claims for the week ending Oct. 29 were in Florida, Michigam, Minnesota, Oregon and Wisconsin. The largest decreases were in California, Nevada, New York, North Carolina, and Tennessee.