US jobless claims decline more than expected
The number of Americans filing for unemployment benefits fell more than expected last week, according to figures released on Thursday by the Labor Department.
Jobless claims declined by 14,000 to 269,000 in the week ended 30 October, hitting their lowest level since 14 March 2020. Analyst had been expecting a figure of 275,000.
The previous week’s level was revised up from 281,000 to 283,000.
The four-week moving average came in at 284,750, down 15,000 on the previous week’s level, which was revised up by 500. This also marked the lowest level for this average since 14 March 2020.
The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly figures, giving a more accurate picture of the health of the labour market.
Continuing claims, which run a week behind the headline number, fell by 134,000 to just over 2.1m.