Unemployment claims in the United States drop to a 19-month low

The number of Americans filing new jobless claims last week dropped to nearly 19 months, reflecting the fact that behind slow job growth was a shortage of workers rather than weak demand for labor.

The number of applications for the first time fell to 36,000 at a seasonally adjusted rate of 293,000 in the week ending 9 October.

This was the lowest level since mid-March 2020. Economists interviewed by Reuters had expected 316,000 orders in the past week.

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