Economic Indicators

U.S. Weekly Initial Jobless Claims Rise to 228,000 — Labor Department

By Scott Kanowsky — The number of Americans filing for unemployment insurance grew by more than expected last week, according to Labor Department data on Thursday.

Seasonally-adjusted initial jobless claims for the week ending on October 8 came in at 228,000, up by 9,000 from the previous period. Economists had anticipated that the figure would rise to 225,000.

It marks the second straight week of gains in unemployment claims, and the highest mark since early September.

The four-week moving average, which aims to account for volatility in the weekly reading, also rose by 5,000 to 211,500.

Meanwhile, continuing claims increased to 1.368M, advancing from the upwardly revised level of 1.365M.


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