Economic Buzz: US Weekly Unemployment Claims Show Modest Decrease

21 Oct 2022 , 09:15 AM

First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended October 15th, according to a report released by the Labor Department on Thursday. The report showed initial jobless claims slipped to 214,000, a decrease of 12,000 from the previous weeks revised level of 226,000. Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 212,250, an increase of 1,250 from the previous weeks revised average of 211,000. The report also showed continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 21,000 to 1.385 million in the week ended October 8th. The four-week moving average of continuing claims inched up to 1,365,000, an increase of 2,250 from the previous weeks revised average of 1,362,750. Powered by Commodity Insights