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Weekly jobless fall

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Weekly jobless fall

Results in line with expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended November 13 were 271,000, a decline of 5,000 from the previous week's figure.  

The results were in line with analysts’ expectations.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 3,000 to 270,750.

The 4-week moving average remains near a 42-year low, and claims overall have stayed below the 300,000 level for 37 consecutive weeks, both of which indicate a strong labor market in the US.  The apparent strength of the labor market will also undoubtedly play a role in the Fed’s decision on the timing of an interest rate hike.

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