ZCZC
BCN-29
US-ECONOMY-UNEMPLOYMENT
U.S. jobless claims rise last week
WASHINGTON, Oct. 18, 2019 (BSS/Xinhua) – The number of initial jobless
claims in the United States increased last week, according to a report
released by the U.S. Labor Department on Thursday.
In the week ending Saturday, the number of people filing for U.S.
unemployment benefits increased by 4,000 to 214,000. Meanwhile, the previous
week’s level was unrevised.
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 214,750. The
previous week’s average was also unrevised.
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.
However, the pace of employment slowed significantly this year. According
to the bureau, job growth in the United States has averaged 161,000 per month
thus far in 2019, compared with an average monthly gain of 223,000 in 2018.
BSS/XINHUA/HR/1500