First-Time Unemployment Claims Jump to 898,000

by Alex Tostado

WASHINGTON, D.C. — First-time unemployment claims totaled 898,000 for the week ending Oct. 10, according to the U.S. Department of Labor. Economists surveyed by Dow Jones expected the weekly figure to come in at 830,000 claims. The most recent figure is an increase of 53,000 claims from the previous week’s revised total of 845,000. The four-week moving average increased by 8,000 to 866,250. Continuing claims, for which data is a week behind, fell by 1.2 million to 10 million for the week ending Oct. 3.

The rise in claims comes on the heels of some companies reporting layoffs, including Cineworld laying off 40,000 employees at Regal and Disney laying off 28,000 employees.

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