October 20, 2022 8:52am EDT
Jobless claims unexpectedly drop to 214,000
Economists expected unemployment applications to rise last week
By Megan Henney FOXBusiness
The number of Americans filing first-time unemployment benefits unexpectedly dropped to a three-week low last week, a sign the labor market remains extremely tight despite the Federal Reserve's efforts to cool it down.
Figures released Thursday by the Labor Department show applications for the week ended Oct. 15 fell to 214,000 from the downwardly revised 226,000 recorded a week earlier. That is also below the 2019 pre-pandemic average of 218,000 claims.
This is a developing story. Please check back for updates.
https://www.foxbusiness.com/economy/jobless-claims-unexpectedly-drop-214000
