Key Takeaways

  • Increase in US initial jobless claims due to the federal shutdown.
  • Analysis of unadjusted data to reveal trends in the labor market.
  • Impact of the federal shutdown on jobless claims for federal employees.
  • Rise in announced layoffs by US companies.
  • Comprehensive economic assessment of the US labor market's condition.

According to a foreign media analysis of unadjusted documents released by states during the federal government shutdown, the United States saw an increase in initial jobless claims last week. Initial jobless claims rose to approximately 228,000 in the week ending November 1, from a revised 219,000 the previous week.

Due to the government shutdown, the Department of Labor has not released weekly reports since September 25, but it did provide downloadable data for most states. Foreign media used pre-released weekly seasonal factors from the Bureau of Labor Statistics to adjust this raw data.

Although this calculation method is very close to the official seasonally adjusted data when including data from all states, the latest weekly report is missing data from New Mexico and the Virgin Islands. For this reason, foreign media used the average of the values for the previous four weeks for these regions as a substitute.

According to calculations, continuing jobless claims, a measure of the total number of people receiving benefits, rose slightly from 1.95 million to 1.96 million in the week ending October 25.

Unemployment benefit applications from federal employees fell for the second consecutive week, but remain high. According to data published on the Department of Labor website, the 'Unemployment Compensation for Federal Employees' program received a total of 7,445 initial applications in the week ending November 1. This data is also missing information from the two regions mentioned above.

In the week ending October 25, continuing claims by federal employees rose to 30,145, the highest level since January 2019 (during the last government shutdown).

Earlier, according to re-employment firm Challenger, Gray & Christmas Inc., US companies announced the highest number of layoffs in October for the same period in more than two decades. Employers announced a sharp increase in layoffs in October, and year-to-date layoffs have exceeded 1 million, and these figures seem to sound a new alarm about the state of the labor market.

David Tinsley, senior economist at the Bank of America Institute, said of the labor market: “It’s cooling, but not collapsing.”


Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

Latest news

gold

Thursday, 13 August 2026

Indices

Gold Price Today, August 14: XAU/USD Falls Below $4,350 as Profit-Taking Deepens

sandisk-stock

Thursday, 13 August 2026

Indices

SanDisk Stock Jumps Nearly 14% on Bullish 2030 Targets, Lam Research Gains Over 3%

kospi

Thursday, 13 August 2026

Indices

KOSPI Rises 2.7% Towards 7,000 as SK Hynix Gains 6% and Kioxia Jumps 7%

Thursday, 13 August 2026

Indices

EUR/USD Holds Near 1.1535 as Flat US PPI Supports Fed Pause Bets

gold rate in dubai

Thursday, 13 August 2026

Indices

Gold Rate in Dubai Today Falls as Global Bullion Prices Retreat

brent crude oil

Thursday, 13 August 2026

Indices

Oil Prices Tumble: Demand and Inventory Build

gold-trading

Wednesday, 12 August 2026

Indices

Gold Price Today, August 13: Gold Climbs Above $4,400 as Cooler US CPI Cuts Fed Hike Bets

tsmc-stock

Wednesday, 12 August 2026

Indices

TSMC Stock Rises 1.7% as AI Infrastructure Rally Lifts Chip Sector

WTI vs Brent Crude Oil

Wednesday, 12 August 2026

Indices

Oil Prices Fall Over 1% as OPEC and IEA Cut 2026 Demand Forecasts

bank-of-japan

Wednesday, 12 August 2026

Indices

USD/JPY forecast: Rate gap limits impact of US and Japanese intervention