First-Time Jobless Claims Improve

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States reported that 326,000 workers filed for new unemployment benefits during the week ending October 2, falling by 38,000 from the previous week’s revised level after three weeks of increases. Although new claims are down significantly from this time last year—and have decreased by 50 percent from April 2021—they are still elevated compared to their 2019 weekly average of just over 200,000.

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