US initial jobless claims fall by 6,000, unemployment rate holds steady

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace in the week ended 17 October, according to the Labor Department. Initial claims fell by 6,000 to 194,000, after the prior week was upwardly revised by 1,000, while the four‑week moving average decreased by 1,000 to 197,750 from the prior week's downward revision.

Continuing claims increased by 25,000, with the number of Americans receiving unemployment benefits rising to to 1.72m in the week ended 10 October, while the previous reading was down by 7,000 from 1.71m.

The seasonally adjusted insured unemployment rate held steady at 1.1%, unchanged from the previous week's unrevised rate.











Reporting by Iain Gilbert at Sharecast.com