Jobless Claims Fall To Lowest Level Since January


Join the International Business Times Newsletter – Keep Up to Date on the Latest in Economy and Markets

The highly competitive U.S. labor market has hit a nine-month low, as jobless claims totaled a seasonally adjusted 198,000 according to the latest figures by the U.S. Labor Department. Eating from both sides, retail sales rose 0.7% in September and industrial production also increased by 0.3% – showcasing consumer confidence and manufacturing strength, respectively.

The news potentially postures an array of implications for the Federal Reserve’s next move on its interest-rate hike, as recent surveys highlight an future expansion of holiday spending by consumers. With its next decision on Nov. 1 , Federal Reserve Chair Jerome Powell is likely to discuss U.S. economic outlook at a scheduled event in New York .

Tune in to stay in the know and get alerted on the latest headlines and developments. Join International Business Times | Newsletter to receive daily insights into the U.S. economy, news markets, and resources available at your disposal.

Robert Wilson author
Articles: 12200