FX.co ★ US Records 232K Initial Jobless Claims Mid-October

During the week ending October 18th, initial jobless claims in the United States amounted to 232,000, maintaining a level distinctly higher than the averages recorded since the conclusion of the second quarter. This marked the first update from the Department of Labor following the US government shutdown, which commenced on October 1st and posed a potential threat to the job stability of numerous federal employees. The recent data shows that the number of outstanding unemployment claims increased to 1.957 million for the previous week, on a non-seasonally adjusted basis. This figure remains close to the peak level observed since 2021 and is consistent with other indicators suggesting a slowdown in hiring activity within the US economy.