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Jobless claims average falls by 9,500, report says number consistent with robust labor market

October 12, 2017

The US four-week moving average of initial claims for unemployment insurance was 257,500 last week, down 9,500 from the previous week’s revised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Oct. 7 fell to 243,000, down 15,000 from the previous week’s level, which was revised down by 2,000.

While the Labor Department said the week’s claims were impacted by hurricanes Harvey, Irma and Maria, Bloomberg reported the number of filings for jobless benefits is consistent with a robust labor market.