US Initial Jobless Claims Rise Slightly to 199,000, Below Forecasts

• US initial jobless claims rose to 199,000.
• Figure was below economists’ 200,000 forecast.
• Continuing claims decreased to 1.710 million.

First-time applications for U.S. unemployment benefits saw a slight increase, reaching 199,000 in the week concluding October 10th, according to data released by the Labor Department on Thursday. This figure represents an increase of 1,000 from the prior week’s revised total of 198,000. Economists had anticipated a rise to 200,000. Meanwhile, the four-week moving average for initial claims also edged up by 250 to 198,500. Separately, continuing jobless claims for the week ending October 3rd decreased by 4,000 to 1,710,000, with the insured unemployment rate remaining unchanged at 1.1%.