Economic news
24.10.2024

U.S. weekly jobless claims total 227,000

The data from the Labour Department revealed on Thursday that the number of applications for unemployment unexpectedly fell last week. 

According to the report, the initial claims for unemployment benefits dropped by 15,000 to 227,000 for the week that ended October 19. This represented the lowest weekly total in three weeks. 

Economists had predicted 242,000 new claims last week.

Claims for the prior week were revised upwardly to 242,000 from the original estimate of 241,000.

Meanwhile, the four-week moving average of jobless claims rose to 238,500 from an upwardly revised 236,500 (from 236,250) in the previous week. This was the highest count since the week ended August 3 (241,000).

As for continuing claims, they increased to 1,897,000 from an upwardly revised 1,869,000 (from 1,867,000) in the previous week. This marked the highest reading since late mid-November 2021. Economists had forecast continuing jobless claims of 1,880,000.

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