US jobless claims are below expectations

US jobless claims were below expectations: 209,000 in the week ending October 7.

Economists participating in the Reuters poll predicted that applications for unemployment benefits would reach 210,000.

According to seasonally adjusted data announced by the US Department of Labor, the number of claims, which had previously been announced at 207,000 in the week ending September 30, was revised to 209,000.

The four-week average of U.S. jobless claims, which is believed to be a better indicator of U.S. labor market trends, fell to 206,250 in the week ending Oct. 7.

The total number of people receiving unemployment benefits in the US increased to 1.702 million in the week ending September 30. (REUTERS)