Unemployment claims dropped in the US

The US Department of Labor announced weekly data on unemployment benefits applications.

Accordingly, the number of people applying for unemployment benefits for the first time in the country decreased by 6 thousand people in the week ending October 31 compared to the previous week, falling to 189 thousand.

Market expectation was that the number of people applying for unemployment benefits for the first time would be 197 thousand in this period.

The previous week's data regarding unemployment benefit applications was revised from 194 thousand to 195 thousand.

As of last week, the 4-week average number of unemployment benefit applications decreased by 2 thousand 250 people, falling to 194 thousand 750. The number of ongoing unemployment benefit applications increased by 23 thousand in the week ending October 24 compared to the previous week, reaching 1 million 718 thousand.