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Jobless claims down, weekly average up

October 16 2008

The advance figure for seasonally adjusted initial unemployment claims was 461,000 for the week ended Oct. 11, down 16,000, or 3.4%, from the previous week's revised figure of 477,000, the U.S. Department of Labor reported today. The effects of hurricane Ike in Texas added approximately 12,000 claims, according to the BLS.

The four-week moving average of initial jobless claims was 483,250, an increase of 750, or 0.2%, from the previous week's average of 482,500.

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