Highlights:

Jobless claims estimated to rise to 232,000 last week

Continued claims climbed to 1.942 million, signaling slower rehiring

Federal worker claims increased following September buyouts

Economists say layoffs remain low but hiring is weak - Advertisement -

The Federal Reserve is expected to cut interest rates to support jobs

The number of Americans filing new applications for unemployment benefits rose last week, reflecting early signs of a cooling labor market. Economists’ estimates released on Thursday (October 23) indicate that jobless claims increased as more Americans continued to collect unemployment benefits, suggesting slower rehiring and weaker job creation.

Initial jobless claims were projected to reach a seasonally adjusted 232,000 for the week ending October 18

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