US initial jobless claims fall to 189,000, a 57-year low, but experts question their accuracy as a layoff gauge
Key points
- Initial claims fell to 189,000, the lowest since September 1969
- October payrolls rose 165,000 and unemployment slipped to 4.1%
- NELP says unemployment insurance coverage is far lower than historically, so claims may no longer reliably proxy layoffs
Initial US jobless claims for the week ending Oct. 31 fell to 189,000, the lowest since September 1969, Marketplace reported. October payrolls rose 165,000 and unemployment slipped to 4.1%. NELP's Michele Evermore said unemployment insurance covers far fewer people than historically, so claims may no longer reliably proxy layoffs.
Original report: 36Kr ↗AI-assisted brief; may contain inaccuracies. Rely on the original reports and official documents.