In the week ending October 18, the advance figure for seasonally adjusted initial claims for unemployment insurance climbed to 283,000 from the previous week's upwardly revised level of 266,000. The four-week moving average, a less volatile gauge of underlying labor market conditions, declined to 281,000 from the previous week's unrevised average of 284,000, its lowest level in over 14 years. The underlying trend in claims points to continued strengthening in the labor market.
