US Jobless Claims Drop to 213,000, Defying Expectations

Continuing claims rise to a three-year high as labor market shows mixed signals.

The number of Americans filing new unemployment claims fell by 6,000 last week to 213,000, below the forecasted 220,000.
This marks a return to near seven-month lows, suggesting resilience in initial jobless claims despite recent economic disruptions.
Continuing claims, representing those still receiving unemployment benefits, rose by 36,000 to 1.91 million, the highest level in three years.
Economists attribute October's sharp slowdown in job growth to hurricanes and strikes, which subtracted an estimated 100,000 to 125,000 jobs from payrolls.
Upcoming data and November's employment report may influence Federal Reserve decisions on interest rates, following recent signs of stalled inflation progress.