Add as a preferred source on GoogleU.S. Continuing Claims Edge Up as Initial Filings Near 60-Year Low
Initial claims fell to 194,000 for the week ended Oct. 17. Michigan had the largest state increase, while Ohio and Tennessee had the biggest declines.
U.S. continuing claims rose but remained close to a three-year low as initial unemployment benefit filings fell to 194,000 for the week ended Oct. 17, keeping the labor reading historically low.
Initial claims declined 6,000 from the prior week’s revised 200,000, putting the total near levels last seen about 60 years ago. The added state and continuing-claims details extend the earlier report on the claims release and September’s Leading Economic Index.
Michigan had the largest increase in initial claims, while Ohio and Tennessee recorded the biggest declines. Continuing claims edged higher but stayed close to their three-year low.
Initial claims count people filing for unemployment benefits for the first time. The measure excludes many people entering or returning to the workforce, along with most gig workers, so it offers only a partial view of how readily those groups can find work. The report was released at 8:30 a.m. ET (12:30 UTC).