US jobless claims exceed expectations

The number of people filing for unemployment benefits for the first time in the US exceeded market expectations: 217,000 in the week ending October 28.

The US Department of Labor announced weekly data on claims for unemployment benefits.

As a result, the number of people filing for unemployment benefits for the first time in the country increased by 5,000 to 217,000 in the week ending October 28 compared to the previous week. The market expectation was that the number of applications would be 210 thousand.

The previous week’s data on jobless claims was revised from 210,000 to 212,000.

As of last week, the 4-week average number of claims for unemployment benefits increased by 2 thousand compared to the previous week, reaching 210 thousand.

The number of applications for unemployment benefits in progress increased by 35 thousand people in the week ending October 21, reaching 1 million 818 thousand, the highest value recorded since April.

Analysts noted that the labor market in the US is experiencing some weakening, although it remains at historically tight levels. (AA)