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10/28, 2:34 PM (Source: TeleTrader)
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US initial jobless claims down 9,000 to 281,000

The number of initial jobless claims in the United States for the week ending October 22 decreased by 9,000 compared to the previous week's revised level to land at 281,000, according to a report published by the US Labor Department on Thursday.

The current figure represents a 19-month-low, even though it remains well above the 212,000 reported in early March 2020, emphasizing the ongoing challenges still faced by the United States economy on its way to pre-pandemic levels of employment.

The report also showed that there were only 194,000 new jobs this week, a decrease compared to the yearly average of 607,000. On the other hand, continuing claims, capturing those still collecting benefits from regular state unemployment programs, also dropped to a pandemic low of 2.42 million.

Breaking the News / TT