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Fewer Americans filed for unemployment benefits last week, keeping initial jobless claims near their lowest levels in 57 years.
Unemployment claims fell to 194,000 in the week ending Oct. 24, the Department of Labor said on Oct. 29, down from 195,000 in the previous week. This came in firmly below the consensus estimate of 199,000.
Claims have been below the 200,000 mark for six of the past seven weeks and have been in a historically low range of 189,000 to 230,000 this year.
Removing week-to-week volatility, the four-week average slipped below 197,000.
Recurring claims—a proxy for hiring trends, as they reflect ongoing joblessness—declined by 21,000 to 1.701 million. This represented the lowest level since March 2023….
Unemployment claims fell to 194,000 in the week ending Oct. 24, the Department of Labor said on Oct. 29, down from 195,000 in the previous week. This came in firmly below the consensus estimate of 199,000.
Claims have been below the 200,000 mark for six of the past seven weeks and have been in a historically low range of 189,000 to 230,000 this year.
Removing week-to-week volatility, the four-week average slipped below 197,000.
Recurring claims—a proxy for hiring trends, as they reflect ongoing joblessness—declined by 21,000 to 1.701 million. This represented the lowest level since March 2023….
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