Weekly Unemployment Insurance Claims Fall by 12,000 to 216,000

The seasonally adjusted initial unemployment insurance claims in the U.S., an indicator that the Fed Reserve followly closely to adjust its interest regime, declined by 12,000, in the week ended October 26, 2024, reaching 216,000, down from a revised 228,000 the previous week. 

Concurrently, insured unemployment fell by 26,000 to 1,862,000, with the insured unemployment rate holding steady at 1.2%, a report of the Department of Labor said.

Initial Claims See Weekly Decrease

The 4-week moving average of initial claims decreased to 236,500, down by 2,250 from the prior week’s revised 238,750. This marks a slight improvement, indicating a reduction in the number of people filing for unemployment benefits.