Initial Jobless Claims Drop 6.1%

The Department of Labor announced today that initial jobless claims for the week ending Nov. 16 fell to a seasonally adjusted level of 323,000, a decrease of 21,000, or 6.1%, relative to the 344,000 reported the previous week. The latest number is the lowest since late September.

Initial jobless claims had spiked in early October because of the partial government shutdown that impacted contractors and processing backlogs in California. But first-time applications have now fallen in five of the past six weeks. However, some economists warned that last week's Veterans Day holiday may have exaggerated last week's decline because many state government offices were closed on Nov. 11.

Source: U.S. Department of Labor.

The four-week moving average for jobless claims also fell for the third week in a row to 338,500:

Source: U.S. Department of Labor.

Relative to the same period last year, jobless claims are down significantly. For the week ending Nov. 17, 2012, initial jobless claims stood at 400,000, a level that is almost 20% higher than where they stand today.

In total, 3.9 million people received jobless benefits for the week ending Nov 2, 2013 (the latest data available), a decrease of 33,000 from the previous week. This stands in stark contrast to the 5.2 million that were receiving jobless benefits during the comparable week last year.

The states with the highest increase in initial jobless claims for the week ending Nov. 9 (the latest available data) were California, New York, and Pennsylvania, while Florida, Kentucky, and Ohio all saw the greatest decrease in jobless claims as shown in the cart below:


Jobless Claims Nov. 2-Nov. 9



New York 










Source: U.S. Department of Labor.

Economists polled by news outlet Reuters anticipated that jobless claims for the most recent week would stand at 335,000.

-- Material from The Associated Press was used in this report.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2737939, ~/Articles/ArticleHandler.aspx, 9/28/2016 4:53:22 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes