(Bloomberg) --
Filings for U.S. unemployment benefits declined more than expected to reach a four-week low, another sign that a resilient labor market continues to underpin the economy.
Jobless claims fell by 8,000 to 211,000 in the week ended Nov. 2, according to Labor Department figures released Thursday. The four-week average, a less-volatile measure, was little changed at 215,250.
Key Insights
- The report is the latest indication that the labor market remains robust despite weakness in some parts of the economy, such as manufacturing and business investment. Jobless claims have remained historically low in recent months after falling to a 49-year low of 193,000 in April.
- The Labor Department's October jobs report last week showed that payroll gains remain steady amid low unemployment and the highest level of workforce participation since 2013.
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- Continuing claims, reported with a one-week lag, fell 3,000 to 1.69 million in the week ended Oct. 26.
- The unemployment rate among people eligible for benefits held at 1.2%.
- Economists surveyed by Bloomberg had forecast that claims would ease to 215,000.
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