Jobless report falls to 269K, lowest numbers since March 2020
Following a September plateau, October jobless claims have begun to level off, nearing pre-pandemic lows
Unemployment numbers fell last week, according to data released Thursday by the Labor Department.
For the week ending Oct. 30, the jobless numbers totaled 269,000 – a 14,000 decline from the prior week's figures. Weekly claims have hit their lowest rate since March 14, 2020, just prior to the onset of the coronavirus pandemic.
Claims have fallen through October after plateauing in September, as employers scramble to meet increased consumer demand. While unemployment numbers appear to be on the right track, job growth figures have been disappointing for several months in a row, falling far below the estimates and hopes of the Biden administration.
The October jobs report will be released tomorrow. Economists are predicting a figure around 450,000. The September estimate was 500,000, though the actual figure totaled just 194,000.