US Weekly Jobless Claims Fall to Near 57-Year Lows

Initial claims for state unemployment benefits decreased by 6,000 to a seasonally adjusted 194,000 for the week ended October 17, according to the Labor Department. This figure is near a 57-year low and was below economists' forecast of 200,000, suggesting a pickup in job growth in October. The report indicates no material stress in the labor market despite the oil price shock stemming from the US-Israeli war with Iran.