US initial jobless claims 217K vs. 220K expected

• US initial jobless claims 217K vs. 220K estimate
• 4 week moving average of initial jobless claims 218.75K vs. 219.25K last week (revised from 219K)
• Continuing claims 1.485M vs. 1.450M estimate. Last week unrevised at 1.438M
• 4 week moving average of continuing claims 1.4175M vs. 1.3875M last week
• The largest increases in initial claims for the week ending October 22 were in New York (+1,726), Georgia (+1,301), New Jersey (+1,100), Pennsylvania (+1,062), and Illinois (+1,016),
• The largest decreases were in Missouri (-2,213), Florida (-2,004), Michigan (-804), Tennessee (-628), and Puerto Rico (-510).

The data continues to show a solid employment environment.

The BLS will release their estimate for job growth on Friday with expectations near 205K. That is below the 263K last month, and will be the lowest since June 2022 when the job gain came in at 199K.