The number of Americans filing for unemployment benefits fell to a near 44-1/2-year low last week, supporting expectations of a sharp rebound in job growth in October after employment was depressed by hurricane-related disruptions in September.
Initial claims for state unemployment benefits decreased 5,000 to a seasonally adjusted 229,000 for the week ended Oct. 28, the Labor Department said on Thursday. That was not too far from 223,000, a 44-1/2-year low touched in mid-October.
Data for the prior week was revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast claims rising to 235,000 in the latest week.
© 2022 Thomson/Reuters. All rights reserved.