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US Jobless Claims shows risk of the labor market's recovery going into reverse - Wells Fargo

12 days ago   |   By FXCM

Data released on Thursday showed an unexpected increase in initial jobless claims to the highest level in seven weeks. Analysts at Wells Fargo point out the number of benefit recipients is still elevated at 25.3 million as additional support remains elusive.
Key Quotes:
“The risk of the labor market's recovery going into reverse was on full display with the latest jobless claims report. Initial filings for regular state programs rose well-above expectations to 898K.”
“Continuing claims declined 1.2M the week ending Oct. 3, but the drop likely reflects more workers exhausting...
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New jobless claims rise to 898,000

New jobless claims rise to 898,000

12 days ago   |   By Daily Mail

For the week ending October 10, 898,000 people filed new claims for unemployment, an increase of 53,000 from the prior week's revised level, according to data released Thursday.
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US weekly jobless claims rise to 898,000 as labor-market recovery stumbles

US weekly jobless claims rise to 898,000 as labor-market recovery stumbles

12 days ago   |   By Business Insider

Summary List Placement The number of Americans filing for unemployment insurance rose last week, indicating discouraging progress around the US labor market's ongoing rebound.
New US weekly jobless claims totaled an unadjusted 898,000 for the week that ended Saturday, the Labor Department announced Thursday morning. That reading came in above the median economist estimate of 825,000 compiled by Bloomberg, and also reflects an increase from the prior week's revised total.
Continuing claims, which track the aggregate total of Americans receiving unemployment benefits, slid to 10 million for...
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