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Jobless claims average falls by 9,000, hurricanes still affecting claims-taking procedures

October 26, 2017

The US four-week moving average of initial claims for unemployment insurance fell to 239,500 last week, down 9,000 from the previous week’s revised average, according to seasonally adjusted numbers released today by the US Department of Labor. The previous week’s average was revised upward by 250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Oct. 21 rose to 233,000, up 10,000 from the previous week’s level, which was revised upward by 1,000.

Claims-taking procedures continue to be severely disrupted in Puerto Rico and the Virgin Islands because of power outages and infrastructure damage caused by Hurricanes Irma and Maria, the department stated.

Bloomberg reported US filings for unemployment benefits rose last week from the lowest level since 1973, consistent with a steady job market. Applications for jobless benefits are still near the lowest level in more than four decades and indicate employers want to hold on to existing staff amid a shortage of qualified workers.