Jobless claims missed expectations but still fell for the sixth week in a row, according to the Department of Labor…(DOL)
- Initial jobless claims for the week ending November 6th were 267,000, a decrease of 4,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020.
- The District of Columbia led the way with a 3,031 drop in claims followed by California (-2,540) and Louisiana (-12,92).
Continuing claims also missed expectations with an increase for the week ending October 30th…
- Continuing claims were 2,160,000, an increase of 59,000 from the previous week’s revised level
- California led the way with 42,146 increase in claims followed by Illinois (+9,051) and The District of Columbia (4,544).
Lindsey Piegza, chief economist at Stifel Financial, told the Wall Street Journal that claims will continue to fall as the pandemic ends…
- “As schools reopen, as day cares reopen, as more facilities accommodate the needs of working women, more will come back to the workforce…But there’s no guarantee they will all come back.”
