Unemployment Claims Drop Nicely, Now Below 500,000...

Unemployment insurance claims were flat last week on a seasonally-adjusted basis, and even fell 53,132 on an unadjusted basis.  The not-seasonally-adjusted numbers also dropped below 500,000 for first time.

Department of labour: The highest insured unemployment rates in the week ending Oct. 31 were in Puerto Rico (6.1 per cent), Oregon (5.5), Nevada (5.2), Alaska (5.0), California (5.0), Arkansas (4.9), Wisconsin (4.9), Michigan (4.8), Pennsylvania (4.8), and Washington (4.7).

The largest increases in initial claims for the week ending Nov. 7 were in Michigan (+6,001), New Jersey (+4,153), Pennsylvania (+3,552), New York (+3,508), and Ohio (+3,292), while the largest decreases were in Florida (-1,915), Arkansas (-734), Oregon (-274), South Carolina (-116), and West Virginia (-19).

Check out the official release here.


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