Jobless claims fall below 300,000 for the first time since the pandemic began

Jobless claims fall below 300,000 for the first time since the pandemic began

- Jobless claims totaled 293,000 for the week ended Oct. 9, below the 318,000 estimate. - That was the first time initial claims dropped below 300,000 since the early days of the Covid-19 pandemic. - Continuing claims fell by 134,000 to 2.59 million. - Wholesale producer prices increased 0.5% for September and 8.6% over the past year, the latter being a fresh record and reflective of ongoing inflationary pressures. Initial jobless claims fell below 300,000 for the first time since the early days of the Covid-19 pandemic, the Labor Department said Thursday. In another sign that the jobs market is getting closer to its old self, first-time claims for unemployment insurance totaled 293,000, the best level since March 14, 2020, which saw 256,000 claims just as the Covid-19 spread intensified. …
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