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US initial jobless claims dropped to 263K last week

FXStreet (Mumbai) - The labor department data released today in the US showed the filings for unemployment benefits dropped to the lowest level since mid-July.

Jobless claims fell by 13,000 to 263,000 in the week ended Oct. 3, the fewest since July 18. The actual number beat the estimate of 274,000. The four-week average of claims, which strips out weekly volatility, dropped to 267,500, the lowest since the first week of August, from 270,500.

The number of people continuing to receive jobless benefits rose by 9,000 to 2.2 million in the week ended Sept. 26.

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