US jobless claims fall below expectations
The US Department of Labor announced weekly data on claims for unemployment benefits. The number of people filing for unemployment benefits for the first time in the country decreased by 13,000 to 198,000 in the week ending October 14 compared to the previous week.
The market expectation was that the number of applications would be 212 thousand. The previous week’s data on unemployment benefit claims was revised from 209,000 to 211,000.
As of last week, the 4-week average number of claims for unemployment benefits decreased by 1,000 compared to the previous week, falling to 205,750. The number of applications for unemployment benefits in progress increased by 29 thousand people in the week ending October 7, reaching 1 million 734 thousand.
INTERESTS AFFECT THE DECISION
Analysts said data on jobless claims showed the labor market remained tight, signaling market resilience against the U.S. Federal Reserve’s aggressive tightening cycle and extending the expected period for unemployment benefits. interest rates remained high. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
