U.S. Weekly Jobless Claims Hit New Low Since Late September

According to Odaily, the number of initial jobless claims in the United States for the week ending October 19 reached 227,000, marking the lowest level since the week ending September 28, 2024. This figure was below the expected 242,000 and the previous week's revised count of 242,000 from an initial 241,000. The four-week moving average of initial jobless claims for the week ending October 19 was 238,500, slightly up from the previously revised average of 236,500 from 236,250. This metric is often used to smooth out the volatility in the weekly data and provide a clearer trend of the labor market's health. Continuing jobless claims for the same week were reported at 1.897 million, higher than the anticipated 1.875 million and the prior week's revised figure of 1.869 million from 1.867 million. These numbers reflect the ongoing challenges in the labor market as individuals continue to seek unemployment benefits.