The DOL reported:
In the week ending October 22, the advance figure for seasonally adjusted initial claims was 217,000, an increase of 3,000 from the previous week’s unrevised level of 214,000. The 4-week moving average was 219,000, an increase of 6,750 from the previous week’s unrevised average of 212,250.
emphasis addedThe following graph shows the 4-week moving average of weekly claims since 1971.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims increased to 219,000.
The previous week was unrevised.
Weekly claims were lower than the consensus forecast.