Jobless claims decrease in the U.S.

According to the Department of Labor, the number of jobless claims in the U.S decreased by 3,000 to a seasonally adjusted figure of 258,000 for the week of October 22. The trend is mainly as a result of an increase in economic growth and a stabilizing market. It is estimated that the number of people filing for unemployment benefits have remained below the threshold of 300,000 usually associated with a strong labor market for 86 weeks. In a poll by Reuters News Agency, economists predicted unemployment benefits decreased to 255,000 for the previous week. The report also mentioned a decrease in the number of recipients of benefits by 15,000 to 2.04 million in the week of October 15, the lowest recorded number since June 2002. Overall, benefit claims decreased in the space of four weeks by 6,250 to 2.05 million. It is estimated that unemployment rates could decrease by around 5% for the month of October.