- U.S. weekly jobless claims rise more than forecast
Market news
31 October 2019
U.S. weekly jobless claims rise more than forecast
The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits rose more than forecast last week, but the trend in
claims remained consistent with strong labor market conditions.
According to
the report, the initial claims for unemployment benefits increased by 5,000 to
a seasonally adjusted 218,000 for the week ended October 26.
Economists had
expected 215,000 new claims last week.
Claims for the
prior week were revised upwardly to 213,000 from the initial estimate of 212,000.
Meanwhile, the
four-week moving average of claims decreased by 500 to 214,750.
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