10/22/2020, 2:31 PM (Source: TeleTrader)
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US initial jobless claims drop by 55,000 to 787,000

Seasonally adjusted initial jobless claims in the United States decreased by 55,000 to 787,000 for the week ending on October 17, according to a report by the US Department of Labor on Thursday. The figure came in below the expected 860,000. The 4-week moving average was 811,250, a decrease of 21,500 from the previous week's revised average. The previous week's level was revised down by 56,000 from 898,000 to 842,000.

The advance seasonally adjusted insured unemployment rate was 5.7% for the week ending October 10, 0.7 percentage points lower than the previous week's revised rate. The number of unemployed Americans was 8,373,000, a decrease of 1,024,000 from the previous week's revised level.

Breaking the News / DJ