Initial Jobless Claims Extend Longest Run Since 1969
Initial claims came in at 199,000, only the 11th week below 200,000 since 1969, while the four-week average of continuing claims fell to its lowest level since April 2023.
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- Initial jobless claims for the week ending October 10: 199,000 (estimate 200,000; previous 197,000; revised previous 198,000).
- Continuing claims for the week ending October 3rd: 1,710,000 (estimate 1,709,000; previous 1,716,000; revised previous 1,714,000).
After bottoming at 189,000 in mid-July — the lowest reading since 1969 — initial jobless claims continue to barely budge, this week edging up 1,000 to 199,000 in the week through October 10 (from a revised 198,000 the prior week). That keeps them below 200,000 for a fifth straight week, extending the longest such run since 1969, and only the 11th week below 200,000 since then (all post-pandemic), leaving claims near cycle lows at the bottom of the relatively narrow range that has held since November 2021.
The four-week average rose 250 to 198,500 (roughly 26,250 lower year-over-year), just off the prior week’s lowest since October 2022.
Continuing claims (seasonally adjusted) in the week through October 3 (one week lagged) fell 4,000 to 1,710,000 (after a 2,000 downward revision to the prior week), just above the least since April 2023 hit two weeks earlier and remaining at the bottom of the roughly 1.70 million to 2.0 million range that has held since mid-2023 — historically low, though not quite as low as initial claims.
The four-week average of continuing claims fell 1,750 to 1,708,750, the lowest since April 2023, and remains lower year-over-year for a 36th straight week (down 214,750) — the largest such gap since December 2022.
The 20-year pre-pandemic average for initial claims is 345,000 and continuing claims roughly 2.9 million.
