Posted by Joseph Y. Calhoun, III

Jobless claims fell 20,000 last week:

In the week ending Oct. 31, the advance figure for seasonally adjusted initial claims was 512,000, a decrease of 20,000 from the previous week’s revised figure of 532,000. The 4-week moving average was 523,750, a decrease of 3,000 from the previous week’s revised average of 526,750.

The advance seasonally adjusted insured unemployment rate was 4.4 percent for the week ending Oct. 24, unchanged from the prior week’s unrevised rate of 4.4 percent.

The advance number for seasonally adjusted insured unemployment during the week ending Oct. 24 was 5,749,000, a decrease of 68,000 from the preceding week’s revised level of 5,817,000. The 4-week moving average was 5,886,250, a decrease of 79,500 from the preceding week’s revised average of 5,965,750.

It is still agonizingly slow but claims continue to move in the right direction: