Economic Buzz: US Weekly Jobless Claims Falls To 5-Month Low

30 Sep 2022 , 09:03 AM

First-time claims for U.S. unemployment benefits unexpectedly fell to a five-month low in the week ended September 24th, according to a report released by the Labor Department. The report showed initial jobless claims slipped to 193,000, a decrease of 16,000 from the previous weeks revised level of 209,000. The Labor Department said the less volatile four-week moving average also edged down to a four-month low of 207,000, a decrease of 8,750 from the previous weeks revised average of 215,750. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also fell by 29,000 to 1.347 million in the week ended September 17th. The four-week moving average of continuing claims also dipped to 1,381,250, a decrease of 22,500 from the previous weeks revised average of 1,403,750.Powered by Commodity Insights