US Initial Jobless Claims Total 199,000, Matching Forecast
Summary
- US initial jobless claims totaled 199,000 last week, in line with forecasts.
- Continuing jobless claims came in at 1.71 million, down 4,000 from the previous week and in line with market expectations.
- Initial jobless claims are an indicator used to gauge whether the US labor market is overheating.
Forecast Trend Report by Period
US initial jobless claims matched market expectations last week.
The Labor Department said on October 15 that initial jobless claims totaled 199,000 last week. That matched economists' forecast of 199,000. The figure was up 1,000 from the previous week's revised 198,000.
Continuing claims, which reflect the number of people receiving unemployment benefits for a second consecutive week, came in at 1.71 million. That was down 4,000 from the previous week's revised 1.714 million. The figure also matched the market forecast of 1.71 million.
Initial jobless claims are a gauge of whether the US labor market is overheating. An increase in claims can be interpreted as a sign that labor-market tightness is easing.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul