Initial Claims Fall, But Not as Much as Expected
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Reports from the Department of Commerce Thursday show jobless claims fell 6,000 to 403,000 for the week ended October 15th. The number was more than the 400,000 expected by economists.
Companies continue to trim workforces as demand also continues to wane, leading to continued stagnation in the job market.
The four-week moving average dropped to 403,000, it's lowest point since April 16th.
Continuing claims popped 25,000 to 3.72 million for the week ended October 8th. Economist had been expecting a reading of 3.69 million.
Folks receiving emergency benefits fell 68,000 to 3.48 million for the week ended October 1st.
The unemployment rate among those eligible for benefits held at 2.9 percent.
About 49 states and territories reported an increase in claims, with 4 reporting a decrease.
Companies continue to trim workforces as demand also continues to wane, leading to continued stagnation in the job market.
The four-week moving average dropped to 403,000, it's lowest point since April 16th.
Continuing claims popped 25,000 to 3.72 million for the week ended October 8th. Economist had been expecting a reading of 3.69 million.
Folks receiving emergency benefits fell 68,000 to 3.48 million for the week ended October 1st.
The unemployment rate among those eligible for benefits held at 2.9 percent.
About 49 states and territories reported an increase in claims, with 4 reporting a decrease.
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