US initial jobless claims fell by 5,000 last week to a total of 232,000, the US Department of Labor reported today. The previous week’s level was revised downward by 6,000.
Economists polled by Dow Jones had estimated 245,000 applications for the latest week, CNBC reported.
According to CNBC, initial filings for unemployment insurance fell to their lowest level since late June last week and is a sign that the labor market is resilient amid a slowing economy.