US Oct unemployment rate likely at 5.0%, seperations data points to strong labor conditions

The applications for jobless claims in US rose to 276k for the week ending October 31, modestly above the market consensus of 262k expectations.   The four-week average increased to 263k from previous 259k, but remains quite low from a historical perspective. 

The continuing jobless claims for the week ending October 24 rose a similar amount, to 2.163mn (previous: 2.146mn), yet the four-week average fell to 2.162mn (previous: 2.173mn).  The insured unemployment rate held steady at 1.6%. 

The separations data continue to point to solid labor market conditions, with initial and continuing jobless claims near decade lows. 

"We look for nonfarm payroll gains of 175k and an unemployment rate of 5.0% in October employment report", estimates Barclays.