US weekly jobless claims hold at 194,000, below forecasts
Continuing claims, which have been rising, are now the figure to watch.
Published
Chart: US initial jobless claims
New applications for unemployment benefits held at 194,000 in the week ending October 25, the same as the week before. Forecasts had pointed to 198,000. Initial claims are the count of new filings each week.
It is the fourth straight week under 200,000. Initial claims have come in below forecasts repeatedly in recent weeks.
The Federal Reserve watches the labor market closely. This reading does little to support the view that scrutiny of visa programs, or the recent rise in continuing claims, is starting to show up in new layoffs. Continuing claims count people who already receive benefits. That series, not new filings, has been the one showing a slight softening. For now, the labor data keeps the Federal Reserve's view on jobs steady, rather than pointing toward a rate cut.
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