New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility. Why Investors Care
| Released on 11/8/07 For wk 11/3 2007 | ||||||||||||
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Highlights
Jobless claims came down 13,000 to 317,000 in the Nov. 3 week, a positive result for the labor market though the 4-week average remains high at 329,750. Wildfires in California added less than 3,000 to the week's results. Continuing claims for the Oct. 27 week fell 4,000 to 2.579 million. October's payroll data, released Friday, proved strong despite negative signals from claims data. Further improvement in claims data will point to even stronger payroll growth for November.
Initial jobless claims fell 6,000 to 327,000 in the week ending October 27. The 327,000 level is higher than September's levels and is about where claims were in August, a time when subprime-related layoffs hit in force. Still, levels are consistent with a strong labor market.
Jobless Claims Consensus Forecast for 11/3/07: 330,000
Range: 320,000 to 330,000
![[Chart]](chart.gif)
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Weekly series fluctuate more dramatically than monthly series even when the series are adjusted for seasonal variation. The 4-week moving average gives a better perspective on the underlying trend. |
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