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US jobless claims flat at start of October

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The low level of US claims for unemployment insurance continued at the start of this month in another sign of healthy labour markets in the world's largest economy.

[WASHINGTON] The low level of US claims for unemployment insurance continued at the start of this month in another sign of healthy labour markets in the world's largest economy.

Seasonally adjusted initial claims for jobless benefits stood at 246,000 for the week ending October 8, unchanged from the previous week's revised level, according to the Labour Department.

"This marks 84 consecutive weeks of initial claims below 300,000, the longest streak since 1970," the department said in a statement.

The level was also beneath an analyst consensus forecast, which had called for a reading of 255,000. Unemployment claims are a sign of the prevalence of layoffs.

Despite low productivity, the US economy has consistently produced solid monthly gains in job creation, with 156,000 positions added in September.

AFP