US Unemployment Insurance Claims Fall Below Expectations
According to US Department of Labor data, initial jobless claims in the country declined during the week ending October 3.
The number of people filing for first-time unemployment benefits in the US fell to 197,000 in the week ending October 3, coming in below market expectations.
Weekly Claims Data
According to weekly data released by the US Department of Labor, the number of initial unemployment claims decreased by 2,000 people in the week ending October 3 compared to the previous period.
General market expectations were for the number of claims to be around the 200,000 level during this period, but the data showed a drop to 197,000.
Revisions and Averages
The previous week's data regarding unemployment claims was revised upward from 197,000 to 199,000.
Meanwhile, the 4-week moving average of initial jobless claims calculated as of last week decreased by 2,500 to 198,000.
Continuing Claims
The number of continuing unemployment claims in the country increased by 17,000 in the week ending September 26.
Following this increase, the total number of continuing claims rose to 1,716,000.