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10/21, 2:30 PM (Source: TeleTrader)
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US initial jobless claims down 6,000 to 290,000

The number of initial jobless claims in the United States for the week ending October 15 decreased compared to the previous week's revised level to reach a better-than-expected 290,000, according to a report published by the US Labor Department on Thursday.

At the same time, the previous week's level was revised upwards by 3,000 and now stands at 296,000. The 4-week moving average stood at 319,750 representing a week-over-week decline of 15,250.

For the week ending October 9, the advance seasonally adjusted insured unemployment rate dropped 0.1 percentage points from the previous week's revised rate to land at 1.8%. Insured unemployment in the same week also saw its numbers lower, decreasing 122,000 from the previous week's revised level to 2,481,000.

Breaking the News / OL