ZCZC
BCN-32
US-ECONOMY-UNEMPLOYMENT
U.S. jobless claims drop last week
WASHINGTON, Oct. 11, 2019 (BSS/Xinhua) – The number of initial jobless
claims in the United States decreased last week, according to a report
released by the U.S. Labor Department on Thursday.
In the week ending Oct. 5, the number of people filing for U.S.
unemployment benefits decreased by 10,000 to 210,000. Meanwhile, the previous
week’s level was revised up by 1,000 from 219,000 to 220,000.
The report also showed that the four-week moving average of initial
claims, a method to iron out data volatility, increased by 1,000 to 213,750.
The previous week’s average was revised up by 250 to 212,750.
As a leading indicator of unemployment status in the United States, a
lower reading in jobless claims indicates lower overall layoffs. The reading
of jobless claims remained below the 300,000 threshold, signaling a tight
labor market in the United States.
For a bigger picture of the U.S. labor market, U.S. employers added fewer-
than-expected 136,000 jobs in September, and the unemployment rate fell to
3.5 percent, a nearly five-decade low, the U.S. Bureau of Labor Statistics
reported on Oct. 4.
BSS/XINHUA/HR/1420