US initial jobless claims drop to 194,000

(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 1,000 to 194,000, after the prior week was upwardly revised by 1,000, while the four‑week moving average decreased by 1,250 to 196,750 from the prior week's upward revision.

Continuing claims decreased by 21,000, with the number of Americans receiving unemployment benefits falling to to 1.701m in the week ended 17 October, while the previous reading was downwardly revised by 6,000 from 1.728m.

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