Braking Down The News

Jobless Claims Drop for First Time in Four Weeks

Initial claims for jobless benefits fell to 326,000 last week, after having ticked up in September


Filings for jobless benefits last week fell for the first time in four weeks, as employers continue to eschew layoffs amid a tight labor market.

The Labor Department reported Thursday that initial unemployment claims, a proxy for layoffs, fell 38,000 in the week ended Oct. 2 to a seasonally adjusted 326,000, from a revised 364,000 the prior week. That put initial claims close to their pandemic low of 312,000 in the week ended Sept. 4.


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