U.S. weekly initial jobless claims fell to 189,000 in late October
U.S. weekly jobless claims hit a 57-year low, which Reuters said pointed to labor-market resilience. Benzinga reported claims fell 6,000 to 189,000 in the final week of October, below the 196,000 forecast. Third-quarter nonfarm productivity rose 3.6%, above expectations, while unit labor costs fell 0.7%.
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U.S. weekly initial jobless claims fell to 189,000 in the final week of October, matching a 57-year low, while labor productivity rose in the third quarter. Reuters said the claims decline pointed to labor-market resilience. Benzinga reported claims dropped 6,000 from the previous week’s revised 195,000 and were below the 196,000 market estimate. Nonfarm business-sector productivity increased 3.6% in the third quarter, exceeding the 2.8% estimate, Benzinga reported. Unit labor costs fell 0.7%, compared with expectations for a 0.6% rise. Demokratis also reported that productivity growth reduced labor costs.
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Verifier’s note
TradingView’s Reuters report and demokratis.co.id both report the 57-year-low jobless claims and third-quarter productivity rise; Benzinga also reports both developments, including the underlying figures. The reports are dated November 5, consistent with the proposed event’s timing.