The number of applications for unemployment benefits in the US fell better than forecast

According to the US Department of Labor, the number of initial applications for unemployment benefits for the week ended October 2 decreased by 38 thousand compared to the revised figure of the previous week – to 326 thousand.

The result exceeded the forecasts of analysts who expected a decrease to 348 thousand. The rate of decline in the indicator for the week was the highest since the end of June. The indicator for the week ended September 25 was revised from 362 thousand to 364 thousand.

At the same time, the average number of initial applications over the past four weeks has increased by 3.5 thousand from last week's level to 344 thousand. The total number of people receiving unemployment benefits in the United States for the week ended October 2 decreased by 97 thousand from the previous week's figure to 2.714 million people, which was the lowest value since March 2020.