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“In the week ending October 27, the advance figure for seasonally adjusted initial claims was 214,000, a decrease of 2,000 from the previous week’s revised level,”  the U.S. Department of Labor announced on Thursday.

Key takeaways from the press release

  • The previous week’s level was revised up by 1,000 from 215,000 to 216,000.
  • The 4-week moving average was 213,750, an increase of 1,750 from the previous week’s revised average.  
  • The advance number for seasonally adjusted insured unemployment during the week ending October 20 was 1,631,000, a decrease of 7,000 from the previous week’s revised level.
    •  This is the lowest level for insured unemployment since July 28, 1973 when it was 1,603,000.