Economic Buzz: US Jobless Claims Inch Up Less Than Expected To 217,000

28 Oct 2022 , 08:58 AM

The Labor Department released a report on Thursday showing a modest increase in first-time claims for U.S. unemployment benefits in the week ended October 22nd. The report said initial jobless claims inched up to 217,000, an increase of 3,000 from the previous weeks unrevised level of 214,000. The Labor Department said the less volatile four-week moving average also rose to 219,000, an increase of 6,750 from the previous weeks unrevised average of 212,250. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also climbed by 55,000 to 1.438 million in the week ended October 15th. The four-week moving average of continuing claims also rose to 1,387,500, an increase of 23,000 from the previous weeks revised average of 1,364,500. Powered by Commodity Insights