Jobless Claims in U.S. Drop as California Clears Backlog
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Fewer Americans filed applications for unemployment benefits last week as a backlog in California’s reporting cleared.
Jobless claims decreased by 10,000 to 340,000 in the week ended Oct. 26 from 350,000 the prior period, the Labor Department reported today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for a decrease to 338,000. California said no claims last week represented applications from prior weeks, a Labor Department spokesman said as the figures were released to the press.