Economic Buzz: US Weekly Jobless Claims Rebounds In Week Ended Oct 10

7 Oct 2022 , 08:48 AM

As the closely watched monthly jobs report looms, the Labor Department released a separate report on Thursday showing first-time claims for U.S. unemployment benefits rebounded by more than expected in the week ended October 1st. The report said initial jobless claims climbed to 219,000, an increase of 29,000 from the previous weeks revised level of 190,000. The Labor Department said the less volatile four-week moving average also crept up to 206,500, an increase of 250 from the previous weeks revised four-month low of 206,250. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also edged up by 15,000 to 1.362 million in the week ended September 24th. Powered by Commodity Insights