New US jobless claims edge down; continued claims on the rise
© Reuters. FILE PHOTO: A"now hiring" sign is displayed outside Taylor Party and Equipment Rentals in Somerville, Massachusetts, U.S., September 1, 2022. REUTERS/Brian Snyder
Meanwhile, the rolls of those receiving benefits after an initial week of aid, a proxy for hiring, rose for a seventh straight week to 1.834 million during the week ending Oct. 28, the highest level since April, the claims report showed. Last week the Labor Department reported the pace of hiring slowed in October and unemployment ticked higher, although joblessness - at 3.9% last month - remains historically low. A separate report showed that there were 1.5 job openings for every unemployed person in September, down from around 2-to-1 when the job market was the most tight last year.
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