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Weekly jobless claims increase slightly

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Weekly jobless claims increase slightly

Weekly claims figure of 260,000 beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended October 24 were 260,000, an increase of 1,000 from the previous week's figure.  

Analysts had expected claims to increase to 263,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 4,000 to 259,500.

The 4-week moving average fell to a 42-year low, and claims overall have stayed below the 300,000 level for 34 weeks, both of which indicate a strong labor market in the US.

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