First Time Jobless Claims Jump 10K

Initial claims for the November 4 week were up 10,000 to 239,000 and above Econoday's consensus estimate of 232,000. The four week average declined 1,250 to 231,250 – the lowest point for the average since 227,750 in the March 31, 1973 week. Continuing claims were up 17,000 to 1.901 million in the October 28 week, bouncing off their recent low.

The Labor Department reported that claims taking procedures continued to be severely disrupted in the Virgin Islands while backlogged filings in Puerto Rico continued to be processed. Unadjusted claims in Puerto Rico totaled 8,137 in the current week after 6,124 in the previous week.

Seasonally adjusted insured unemployment rate rose to 1.4 percent in the October 28 week from 1.3 percent in the previous week.

Recent History Of This Indicator:
Initial claims are expected to come in at 232,000 in the November 5 week vs 233,000 in the October 28 week. Hurricane-related claims from Puerto Rico are still a wildcard.