WASHINGTON – Initial jobless claims decreased by 1,000 to 530,000 in the week ending Oct. 24, as continuing claims fell by 148,000 to 5.797 million, the Labor Department reported today.
Economists had forecast initial claims would be 525,000 and continuing claims would be 5.91 million, according to the median estimate from Thomson Reuters.
The four-week moving average for initial claims, a less volatile measure, dropped 6,000 to 526,250. The four-week average for continuing claims fell 78,750 to 5.96 million
Nineteen states reported claims with a decrease of more than 1,000. Wisconsin had the biggest drop at 5,681, fewer layoffs in the trade and manufacturing industries.
One state reported an increase in claims of more than 1,000. California claims showed a gain of 5,774, with layoffs in the construction, trade, and service industries as well as agriculture.
