Initial claims for state unemployment benefits increased 5,000 to a seasonally adjusted 215,000 for the week ended Oct. 20. 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.
First-time claims for unemployment benefits in the United States were expected to total 214,000 in the most recent week, up from the 210,000 claims reported for the prior week, according to figures released Thursday by the U.S. Labor Department
Economists had forecast claims rising to 214,000 in the latest week. The department said claims for South and North Carolina continued to be affected by Hurricane Florence. Claims for Florida and Georgia were impacted by Hurricane Michael.
The four-week moving average of initial claims, considered a better measure of labour market trends as it irons out week-to-week volatility, was unchanged at 211,750 last week.
The labour market stateside is viewed as being near or at full employment, with the unemployment rate close to a 49-year low of 3.7%. There are a record 7.14 million open jobs in the economy, suggesting a shortage of skilled workers.
