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Weekly US jobless claims continue falling

By Alexander Bueso

Date: Thursday 29 Oct 2020

Weekly US jobless claims continue falling

(Sharecast News) - The ranks of the jobless in the US continued falling over the past week reaching a seven month low in the process.
According to the Department of Labor, initial unemployment claims fell by 40,000 over the week ending on 24 October.

Economists had penciled-in a decline to 765,000.

The four-week moving average for initial claims, which aims to smooth out the variations from one week to the next, slipped by 24,500 to 787,750.

Continuing claims, those which are not being filed for the first time and linked to the week before, also dropped, by 709,000 to reach 7.756m.

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