Jobless Claims Drop 35,000, Now Below 500,000

Vincent Fernando of Money Game

Seasonally-adjusted initital jobless claims fell 35,000 from last week to 466,000. Yet they rose 68,080 on an unadjusted basis. This basically means they rose less than normal for this time of year.

Department of Labor: The highest insured unemployment rates in the week ending Nov. 7 were in Puerto Rico (6.2 percent), Oregon (5.5), Alaska (5.1), Nevada (5.1), Pennsylvania (4.9), Wisconsin (4.9), Arkansas (4.7), California (4.7), Michigan (4.6), North Carolina (4.6), and Washington (4.6).

The largest increases in initial claims for the week ending Nov. 14 were in Florida (+1,313), Indiana (+607), Hawaii (+278), and North Dakota (+81), while the largest decreases were in California (-7,987), Texas (-4,710), Pennsylvania (-4,321), Wisconsin (-2,716), and Ohio (-2,486).

Check out the official release here.

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