The Department of Labor reports that initial weekly jobless claims for the week ending October 13th were 388k, a huge 46k higher than last week’s revised reading of 342k.
This is the highest jobless claims print since the week ending July 14th.
The insured unemployment rate finally dropped 0.1% to 2.5%, after holding steady at 2.6% for 30 straight weeks.
The numbers of Americans who are unemployment insurance recipients was 3,252k, 29k lower than last week’s revised reading of 3,281k.
