November 03, 2022 - 7:54am | By Kyle Cornell
(Washington, DC) -- Fewer Americans are filing first-time claims for unemployment benefits.
The Labor Department reports 217-thousand initial requests were filed in the week ending October 29th. That's a drop of a thousand from the previous week's revised total.
It's also less than what was in the forecast as analysts continue to note that unemployment remains at a 50-year low.
Thursday's report comes on the heels of another interest rate hike from the Federal Reserve in a bid to fight inflation.