US initial jobless claims edge slightly higher

(Sharecast News) - US jobless claims edged slightly higher in the week ended 10 October, but remained close to multi‑decade lows, underscoring the continued resilience of the labour market. According to the Labor Department, initial claims rose by 1,000 to 199,000, after the prior week was revised up to 198,000 from 197,000, while the four‑week moving average ticked up by 250 to 198,500, also reflecting small upward revisions to earlier data.

Continuing claims were broadly steady, with the number of Americans receiving unemployment benefits falling by 4,000 to 1.71m in the week ended 3 October, while the previous reading was revised down to 1.714m.

The seasonally adjusted insured unemployment rate held steady at 1.1%, unchanged from the prior week.







Reporting by Iain Gilbert at Sharecast.com