US: Weekly initial claims was 229,000, a decrease of 5,000 from previous week

"In the week ending October 28, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 5,000 from the previous week's revised level," the US Department of Labor said anounced on Thursday.

Key highlights

• The 4-week moving average was 232,500, a decrease of 7,250 from the previous week's revised average.
• This is the lowest level for this average since April 7, 1973 when it was 232,250.
• The previous week's average was revised up by 250 from 239,500 to 239,750.
• Claims taking procedures continue to be severely disrupted in the Virgin Islands. The ability to take claims has improved in Puerto Rico and they are now processing backlogged claims.
• The advance number for seasonally adjusted insured unemployment during the week ending October 21 was 1,884,000, a decrease of 15,000 from the previous week's revised level.