Applications for US jobless benefits fall to lowest level in more than 8 months
Applications for unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers despite elevated interest rates meant to cool the economy and labor market
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Applications for unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers despite elevated interest rates meant to cool the economy and labor market.
Jobless claim applications fell by 13,000 to 198,000 for the week ending Oct. 14, the Labor Department reported Thursday. That's the fewest since January.
Jobless claim applications are considered a proxy for layoffs.
The four-week moving average of claims, which flattens out some of the week-to-week volatility, ticked down by 1,000 to 205,750.
Overall, 1.73 million people were collecting unemployment benefits the week that ended Oct. 7, about 29,000 more than the previous week.