U.S. Jobless Claims Fall in Line with Expectations Last Week By Investing.com

© Reuters.  U.S. Jobless Claims Fall by 1,000 Last Week

© Reuters. U.S. Jobless Claims Fall by 1,000 Last Week

Investing.com – The number of people who filed for unemployment assistance in the U.S. fell broadly in line with market expectations last week, remaining in territory consistent with a strengthening labor market.

The U.S. Department of Labor said that the number of individuals filing for initial jobless benefits in the week ended November 3 decreased by 1,000 to a seasonally adjusted from the previous week’s upwardly revised total of 215,000.

The four-week moving average was , a decrease of 250 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Continuing jobless claims in the week ended October 27 fell to , the lowest since 1973, from 1.631 million in the preceding week, compared to expectations for an increase to 1.635 million.

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