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

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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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