U.S. Weekly Jobless Claims Show Modest Decrease

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A report released by the Labor Department on Thursday showed a modest decrease in first-time claims for U.S. unemployment benefits in the week ended October 3rd.

The Labor Department said initial jobless claims edged down to 840,000, a decrease of 9,000 from the previous week’s revised level of 849,000.

Economists had expected jobless claims to dip to 820,000 from the 837,000 originally reported for the previous week.

The report said the less volatile four-week moving average also fell to 857,000, a decrease of 13,250 from the previous week’s revised average of 870,250.


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