Daily News

View All News

Jobless claims drop to lowest level since January

October 19, 2023

US initial jobless claims fell by 13,000 in the week ended Oct. 14 to a total of 198,000 — their lowest level since the week of Jan. 21, the US Department of Labor reported today. The previous week’s level was revised upward by 2,000.

The increase in total jobless claims is lower than the 14,000 that analysts had expected; however, the number of continuing claims jumped to its highest level in three months, The Associated Press reported. This suggests that while there may be fewer layoffs, those who are unemployed are having a more difficult time finding jobs, the AP reported.

The four-week moving average of initial claims fell by 1,000 to a total of 205,750 from the previous week’s revised average.