U.S. Initial Jobless Claims Rise to 258,000, Continuing Claims at 1.861M

Oct 10, 2024, 12:32 PM

U.S. initial jobless claims rose to 258,000 for the week ending October 5, exceeding the forecast of 230,000 and marking the highest level since August 2023. Continuing jobless claims also increased to 1.861 million for the week ending September 28, surpassing the estimated 1.830 million. The previous week's initial claims were 225,000, while continuing claims were 1.826 million. The greatest increases in jobless claims were seen in Michigan (+9.5k), North Carolina (+8.5k), and California (+4.5k), while the greatest decreases were in Louisiana (-140), Massachusetts (-103), and Arizona (-67). The rise in jobless claims has contributed to pushing U.S. stock-market futures lower, influenced by concerns over inflation and economic stability.