The American economy is witnessing a positive trend as the weekly unemployment claims reached 211,000 for the week ending on October 1st, 2022. This is the lowest figure since March 2022, according to the latest data from the US Department of Labor. The previous week’s figure stood at 218,000 claims. Initial jobless claims, a proxy for layoffs, have remained relatively low, with the four-week moving average slipping by 2,000 to 217,750.
The seasonally adjusted number of termination filings fell from 218,000 in the week prior to 211,000 last week. Continuing jobless claims decreased by 4,000 to 1.54 million in the week that ended on September 24, 2022, the Labor Department said Thursday, highlighting the improvement in the labor market. The 4-week moving average for continuing claims fell to 1,545,250.
