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Initial claims for state unemployment benefits increased 2,000
to a seasonally adjusted 216,000 for the week ended Nov. 10, the
Labor Department said on Thursday. Data for the prior week was
unrevised. Claims fell to 202,000 during the week ended Sept.
15, which was the lowest level since November 1969.
Economists polled by Reuters had forecast claims falling to
212,000 in the latest week. The Labor Department said claims for
California, Virginia and Texas as well as those of Puerto Rico
and Hawaii had been estimated. Claims data for North Carolina
continued to be affected by Hurricane Florence, while Hurricane
Michael impacted those for Florida and Georgia.
The four-week moving average of initial claims, considered a
better measure of labor market trends as it irons out
week-to-week volatility, rose 1,500 to 215,250 last week.
The labor market is viewed as being near or at full employment,
with the jobless rate at 3.7 percent. The lowest unemployment
rate in nearly 49 years is boosting wages, with annual wage
growth recording its biggest increase in 9-1/2 years in October.
Thursday's claims report also showed the number of people
receiving benefits after an initial week of aid increased 46,000
to 1.68 million for the week ended Nov. 3. The four-week moving
average of the so-called continuing claims rose 8,750 to 1.64
million.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)
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