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BREAKING NEWS: US Weekly Jobless Claims: 217K

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States reported that 217,000 workers filed for new unemployment benefits during the week ending Oct. 28, an increase of 5,000 from last week's revised level. Though the labor market is gradually cooling, conditions remain tight, with claims at the low end of their typical range.

About 1.81 million workers continue to claim unemployment benefits, down from 1.86 million in mid-April. The unemployment rate was reported at 3.8 percent in September. For much of the past 18 months, unemployment has drifted between 3.4 percent and 3.8 percent, a historically low range, despite high interest rates and inflation.

Tomorrow, the Department of Labor will report on how many jobs the U.S. economy added in October, the unemployment rate and wage gains for the month.
 
 
 
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