The
number of Americans who registered in the labor offices for the week ended Oct.
17 is amounted to 259 thousand. The result pleasantly surprised analysts who
had predicted an increase to 266 thousand compared to 256 thousand for the
previous seven days.
At the same time, the average monthly number of submitted applications for
unemployment benefits last month decreased from 265.250 to 263.250. So the
indicator, which is considered more reliable than the markets because temporary is smoothing fluctuations in the
data, reached its lowest level since December 1973 onwards.
After a disappointing government employment statistics in September, the US
labor market submitted mainly positive signals, preserving hopes that the
Federal Reserve may proceed to raise rates before the end of the year.
"With August and September being notorious for initially under-reportingjob gains, today's data add to the case that employment growth will pick up inOctober and the unemployment rate will continue to grind lower," said John Ryding, chief
economist at RDQ Economics in New York.
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