Initial jobless claims fall to 194,000 for the week ending October 24

The October 29 Labor Department listing shows a 1,000 decline from a revised 195,000. The four-week average fell to 196,750.

The Labor Department's October 29 weekly-claims listing reports 194,000 advance seasonally adjusted initial unemployment-insurance claims for the week ending October 24. That was a decrease of 1,000 from the previous week's revised level. The previous week was revised upward by 1,000, from 194,000 to 195,000. The new reading is therefore lower than the revised comparison even though it matches the number originally published for the earlier week. The four-week moving average fell to 196,750, down 1,250 from a revised 198,000. The previous average was revised upward by 250 from 197,750. This average smooths weekly variation but remains subject to revisions. These figures are seasonally adjusted initial claims, not the total number of unemployed people or a count of all workers receiving benefits. Initial and continuing claims measure different stages of the benefit process. The release date and reference week are also different: the October 29 listing covers initial claims for the week ending October 24. The Labor Department's preceding October 22 entry covered the week ending October 17 and should not be presented as the new reporting week. This brief uses the new figures shown in the official Labor Department listing. It does not infer a Federal Reserve decision, a market consensus surprise or a continuing-claims total from the initial-claims number alone.

Initial jobless claims fall to 194,000 for the week ending October 24

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