By CountingPips.com
U.S. jobless claims increased by more than expected in the week that ended on October 30th, according to a release by the U.S. Labor Department today. Weekly initial jobless claims rose by 20,000 workers to a total of 457,000 unemployed workers. The 4-week moving average of unemployed workers decreased by 2,000 workers from the previous week to a total of 456,000.
Market forecasts were expecting jobless claims to number 440,000 workers following the prior week’s 437,000 revised number of claims.
Meanwhile, workers seeking continuing claims for unemployment benefits for the week ending October 23rd decreased for the week. Continuing claims fell by 42,000 workers to a total of 4,340,000 unemployed workers. The 4-week moving average of continuing claims dropped by 42,750 workers to a total of 4,410,750.