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U.S. Initial Jobless Claims Drop to Lowest Since March 2020

  • Applications dip below 300,000 to fresh pandemic low
  • However, unadjusted unemployment claims rose by 16,000
Bloomberg business news
U.S. Producer-Price Growth Slows as Jobless Claims Fall
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Applications for U.S. state unemployment benefits fell last week to the lowest since March 2020, showing employers are hanging onto their workers in a tight labor market.

Initial unemployment claims in regular state programs totaled 293,000 in the week ended Oct. 9, a decrease of 36,000 from the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a slight decrease to 320,000 applications.