First Time Jobless Claims Fall 7K

Jobless claims are settling in right at historic lows, continuing to point to a significant lack of slack in the labor market. Initial claims fell 7,000 in the October 10 week to 255,000 which matches the 42-year low posted in July. But as a share of the increasingly larger labor market, this level may very well be a record. The 4-week average is down 2,250 in the week to a 265,000 level which is also a 42-year low and more than 5,000 below a month ago in a comparison that offers an early hint of strength for the October employment report.

Recent History Of This Indicator:
Jobless claims are expected to rise slightly to 270,000 in the October 10 week, up from the prior week's unusual low of 263,000. For the past six months, claims have been signaling very tight conditions in the labor market.