US Jobless Claims Help Boost Markets

US Jobless Claims Help Boost Markets

The number of people who filed for unemployment assistance in the US last week fell more than forecast, the US Department of Labor reported the number of individuals filing for initial jobless benefits last week fell to a seasonally adjusted 263K, from 276K in the previous week whose figure was revised down from 277K. Initial jobless claims were forecast to fall to 274K last week.

US data showed that the number of people filing first time claims for jobless benefits in the US last week fell to the lowest level in almost 42 years, indicating that the labour markets is continuing to tighten despite the slowdown in job creation. The the number of initial jobless claims in the week ending October 3 fell by 13,000 to 263,000 from the previous week’s downwardly revised total of 276,000.

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