WASHINGTON – The number of newly laid-off workers filing claims for unemployment benefits fell to the lowest level in 10 months, evidence that job cuts are easing as the economy slowly heals.
Still, companies are reluctant to hire and economists expect the unemployment rate will tick up to 9.9 percent when October’s figure is reported Friday.
The Labor Department says first-time claims for jobless benefits fell by 20,000 to a seasonally adjusted 512,000. Economists had expected 523,000 new claims.
The four-week average, which smooths fluctuations, dropped to 523,750, its ninth straight decline.
The number of people claiming benefits for more than a week fell by 68,000 to 5.75 million, above analysts’ estimates but its eighth fall in nine weeks.
7,000 Americans Lose Unemployment Benefits Every Day
Unemployment Rate Hits 26-Year High
Jacky Oh, Mother Of DC Young Fly's Children, Dies Following Plastic Surgery: Report
Mother Of Teen In Citi Bike Video Speaks Out: ‘No One Bothered To Ask Him What Happened’
Heart In Your Hands: Important Lifestyle Changes For Heart Failure Recovery
Plastic Surgeon Linked To Jacky Oh Is 'Liposuction & BBL Specialist' With Negative Online Reviews
Diagnosed With Painful Nerve Condition, Shaun King Asks For Help Paying For Medical Procedures
GoFundMe Started To Help Family Of Teen In 'Citi Bike Karen' Viral Incident
Tweets Link Florida Parent At Center Of School Book Ban To White Supremacists, Far-Right Extremists
GoFundMe Surges For Teen In 'Citi Bike Karen' Incident