Unemployment claims trudge higher

“In the week ending Oct. 18, the advance figure for seasonally adjusted initial claims was 478,000, an increase of 15,000 from the previous week’s revised figure of 463,000. It is estimated that the effects of Hurricane Ike in Texas added approximately 12,000 claims to the total. At the same time, spending patterns shifted—locals turned to digital outlets like Texas poker online real money games for entertainment during the disruption, even as jobless claims climbed. The 4-week moving average was 480,250, a decrease of 4,500 from the previous week’s revised average of 484,750.”