(The Center Square) – Wisconsin’s new unemployment claims last week dropped less than 3% below claims reported for the previous week.
The news arrived on the same day the U.S. Commerce Department announced third-quarter numbers reflecting a 33.1% growth in gross national product.
For the week ending Oct. 24, Wisconsin reported 13,508 new unemployment filings, 382 filings less than the 13,890 new filings from the previous week, according to data released Thursday by the U.S. Department of Labor. Continuing claims for those who applied for benefits at least two weeks in a row stood at 100,468 for the week ending Oct. 17, compared to 102,729 continuing claims for the week ending Oct. 10.
Nationwide, the DOL reports the advance figure for seasonally adjusted initial claims was 751,000 for the week ending Oct. 24, a decrease of 40,000 from the previous week’s revised level. The previous week’s level was revised up by 4,000 from 787,000 to 791,000. The 4-week moving average was 787,750, a decrease of 24,500 from the previous week’s revised average. The previous week’s average was revised up by 1,000 from 811,250 to 812,250.
Approximately 50%, or 11 million, of the 22 million jobs reported lost in March and April of this year have returned.
By Bruce Walker | The Center Square
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Reposted with permission