(Department of Labor) US jobless claims were 290,000 for the week that ended October 16, down by 6,000 from the previous week. The claims were lower than expected 300,000.
At 290,000, the jobless claims were at their lowest since March 14, 2020. Previous week’s jobless claims were revised up by 3,000 to 296,000.
Continuing claims fell by 122,000 to 2.481 million. The previous week’s continuing claims were revised up by 10,000 to 2.603 million.
The initial claims under state claims declined by 8.7% or 24,293 to 256,304. The decline was higher than expected fall of 6.6% or 18,500.
The states of Michigan, Missouri, Maryland, New Mexico, and Kentucky had the largest rises in initial claims. The claims fell the highest in Tennessee, California, Florida, New Jersey, and Alabama.
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