US weekly jobless claims drop by 15,000 to 227,000: Labour department

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The labour department said that initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 227,000 for the week ended Oct.

The first reduction in borrowing costs since 2020 lowered the Fed's policy rate to the 4.75 per cent-5.00 per cent range.

The so-called continuing claims covered the period during which the government surveyed households for October's unemployment rate.

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Category: BusinessFinance

Markets: India

Topics: US jobless claims US unemployment Jobless claims US weekly jobless claims

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-24 @ 18:59:56 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 499 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23225039

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