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Jobless claims make upward jump last week

Unemployment insurance weekly claims for the week ending Oct. 10 revealed an increase of over 50,000 seasonally adjusted initial claims, surpassing economists’ predictions and sitting at the highest level since mid-August.

In the week ending October 10, the advance figure for seasonally adjusted initial claims was 898,000, an increase of 53,000 from the previous week’s revised level.

The previous week’s level was revised up by 5,000 from 840,000 to 845,000. The 4-week moving average was 866,250, an increase of 8,000 from the previous week’s revised average. The previous week’s average was revised up by 1,250 from 857,000 to 858,250. 

Advance seasonally adjusted insured unemployment rate was 6.8 percent for the week ending October 3, a decrease of 0.9 percentage point from the previous week’s revised rate. The previous week’s rate was revised up by 0.2 from 7.5 to 7.7 percent.

The advance number for seasonally adjusted insured unemployment during the week ending October 3 was 10,018,000, a decrease of 1,165,000 from the previous week’s revised level. The previous week’s level was revised up 207,000 from 10,976,000 to 11,183,000.

The 4-week moving average was 11,481,750, a decrease of 682,250 from the previous week’s revised average. The previous week’s average was revised up by 51,750 from 12,112,250 to 12,164,000.