According to the Labor Department, the number of people who filed for unemployment insurance for the first-time last week came in at 332,000. The market was looking for 325,000 filings. Last week’s numbers were significantly higher than those reported the previous week – 312,000.
Initial jobless claims had reached their lowest level since March 2020 at the start of September. The figures underscored that labor shortages and difficulties in hiring had been the biggest drag on the labor market.
Sources: cnbc.com, forexfactory.com