WASHINGTON – Initial jobless claims were 505,000 for the week ending Nov. 14, unchanged from the previous week, the Labor Department reported today.
Continuing claims dropped to 5.611 million for the week ending Nov. 7, the eighth consecutive weekly drop.
Economists expected 505,000 initial claims and 5.6 million continuing claims, according to the median estimate from Thomson Reuters.
The initial claims figure was partly influenced by last week's Veteran's Day holiday, which shortened the work week for many state unemployment offices, a Labor Department official said.
The four-week moving average for initial claims, a less volatile figure, dropped for the 12th straight week to 514,000 and the lowest level in a year. The four-week average for continuing claims fell to 5,711,500, the ninth consecutive decline.
Initial claims for the week ending Nov. 7 were revised to 505,000 from 502,000. Continuing claims were revised to 5.650 million from 5.631 million.
The Labor Department will release claims data for the week ending Nov. 21 on Wednesday Nov. 25 because of Thanksgiving.
