AWESOME: INITIAL JOBLESS CLAIMS PLUNGE TO 339K

Initial jobless claims for the week ending October 6 dropped to 339,000 from 369,000 a week ago.

Economists surveyed by Bloomberg expected the number to tick up to 370,000.

The four week moving average fell to 364,000 from a previous average of 375,000.

From the BLS:

The largest increases in initial claims for the week ending September 29 were in New York (+2,764), California (+2,069), North Carolina (+1,217), Pennsylvania (+989), and Arkansas (+538), while the largest decreases were in Mississippi (-3,393), Michigan (-2,639), Florida (-1,972), Ohio (-1,723), and Oregon (-1,135).

For some context, here’s a historical look courtesy of Reuters’ chart guru Scott Barber:

initial jobless claims

Photo: Scott Barber / Thomson Reuters Datastream

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