First Time Jobless Claims Drop 3K

Initial jobless claims fell 3,000 in the October 22 week to 258,000 with the 4-week average up slightly to 253,000. Continuing claims are of special note in today's report as the reporting week of October 15 was also the sample week for the monthly employment report. And continuing claims fell, down 15,000 to 2.039 million in a positive indication for next week's monthly data.

All of the data in this report are at or near historic lows. Employers are holding onto their employees even as employment growth has slowed this year. There are no special factors in today's report.

Recent History Of This Indicator:
Initial jobless claims have been tracking at historic lows and pointing to healthy conditions in the labor market though they did rise 13,000 in the October 15 week to 260,000 for the highest level in five weeks. Forecasters see initial claims moving back down, 5,000 lower to 255,000 in the October 22 week.