Although initial jobless claims ticked up by 3,000 filings to 287,000 for the week ended Oct. 25, levels still remain at historic lows, according to the latest jobs report from the U.S. Department of Labor.
Last week’s numbers were revised up by 1,000 from 283,000 to 284,000.
Meanwhile, the 4-week moving average was 281,000, a decrease of 250 from the previous week's revised average.
This is the 7th straight decline and the lowest level since May 2000, analysts with Econoday said. “The average is about 15,000 lower than the month-ago comparison which points to strength for the October employment report.”