Initial jobless claims slump to 44-year low

• October 19, 2017
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance

The numbers: Initial jobless claims, a way to measure layoffs, sank by 22,000 to 222,000 in the week ended Oct. 14. That’s the lowest figure since March 1973 and well below the 244,000 MarketWatch forecast.

The more stable monthly average of claims declined by 9,500 to 248,250, though it remains somewhat elevated because of the recent hurricanes.

The number of people already collecting unemployment benefits, known as continuing claims, decreased by 16,000 to 1.89 million, the Labor Department said. That’s also a 44-year low.