BREAKING: US Jobless Claims below expectations

The number of Americans filling for unemployment benefits was 0.787 million in the week ended October 17th, compared to 0.898 million in the previous week. Today’s reading came in below market expectations of 0.860 million and it is the lowest level since the effects of the coronavirus pandemic started to being felt back

Continuing claims reading, which lags initial jobless claims data by one week, reach 8.373 million, while analysts expected a drop to 9.5 million. Also, more than 345 thousand people applied for help from the Pandemic Unemployment Assistance scheme, which covers workers that do not qualify for initial claims.

Continuing jobless claims continued to drop which may be a sign that the labour market might start recovering from the coronavirus pandemic hit. Source: Bloomberg.

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BREAKING: US Jobless Claims below expectations

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