FOREX TradingCharts.com

Financial News: U.S. Weekly Jobless Claims Unexpectedly Climb To 898,000

U.S. Weekly Jobless Claims Unexpectedly Climb To 898,000

10/15/2020 - 09:20:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended October 10th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims climbed to 898,000, an increase of 53,000 from the previous week's revised level of 845,000.

Economists had expected jobless claims to edge down to 825,000 from the 840,000 originally reported for the previous week.

With the unexpected increase, jobless claims reached their highest level since topping 1 million in the week ended August 22nd.

The Labor Department said the less volatile four-week moving average also inched up to 866,250, an increase of 8,000 from the previous week's revised average of 858,250.

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, tumbled by 1.165 million to 10.018 million in the week ended October 3rd.

The four-week moving average of continuing claims also slumped to 11,481,750, a decrease of 682,250 from the previous week's revised average of 12,164,000.

Despite the continued decline in continuing claims, Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics noted that "positive trend continues to be partly offset by a rise in the number of individuals who have exhausted regular benefits."

"Failure to pass additional fiscal relief measures poses considerable downside risk to the economy, particularly as Covid-19 cases are on the rise and would likely lead to further job losses," Vanden Houten said.

She added, "Failure to provide more relief raises the risk that some individuals will lose benefits altogether at the start of 2021."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


ECB's Lagarde Says Data Suggest Significant Softening In Economic Activity In Q4 (02 hr(s), 34 min(s), 33 sec(s) ago)
(RTTNews) - European Central Bank President Christine Lagarde on Thursday hinted at a move by the ...Full Story»

U.S. Pending Home Sales Unexpectedly Pull Back Off Record High In September (05 hr(s), 14 min(s), 33 sec(s) ago)
(RTTNews) - Pending home sales unexpectedly pulled back off a record high in the month of Septembe ...Full Story»

ECB Signals December Move (05 hr(s), 41 min(s), 33 sec(s) ago)
(RTTNews) - European Central Bank left its key interest rates and massive stimulus unchanged on Th ...Full Story»

U.S. GDP Rebounds More Than Expected In The Third Quarter (06 hr(s), 0 min(s),33 sec(s) ago)
(RTTNews) - After reporting a record contraction in U.S. economic activity in the previous quarter ...Full Story»

Germany Consumer Prices Fall For Second Month (06 hr(s), 16 min(s), 33 sec(s) ago)
(RTTNews) - Germany's consumer prices declined for the second straight month in October largel ...Full Story»

U.S. Weekly Jobless Claims Drop To Lowest Level Since March (06 hr(s), 18 min(s), 33 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits fell to their lowest level since befo ...Full Story»

U.S. GDP Shows Substantial Rebound In The Third Quarter (06 hr(s), 58 min(s), 33 sec(s) ago)
(RTTNews) - After reporting a record contraction in U.S. economic activity in the previous quarter ...Full Story»

U.S. Weekly Jobless Claims Drop More Than Expected (07 hr(s), 03 min(s), 33 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits fell to their lowest level since befo ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

ECB's Lagarde Says Data Suggest Significant Softening In Economic Activity In Q4

10/29/2020 - 13:09 PM (RTTNews)
(RTTNews) - European Central Bank President Christine Lagarde on Thursday hinted at a move by the ...Full Story>>

U.S. Pending Home Sales Unexpectedly Pull Back Off Record High In September

10/29/2020 - 10:29 AM (RTTNews)
(RTTNews) - Pending home sales unexpectedly pulled back off a record high in the month of Septembe ...Full Story>>

ECB Signals December Move

10/29/2020 - 10:02 AM (RTTNews)
(RTTNews) - European Central Bank left its key interest rates and massive stimulus unchanged on Th ...Full Story>>

U.S. GDP Rebounds More Than Expected In The Third Quarter

10/29/2020 - 09:43 AM (RTTNews)
(RTTNews) - After reporting a record contraction in U.S. economic activity in the previous quarter ...Full Story>>

Germany Consumer Prices Fall For Second Month

10/29/2020 - 09:27 AM (RTTNews)
(RTTNews) - Germany's consumer prices declined for the second straight month in October largel ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.