Key facts
- New jobless claims fell to 194,000 in the week ended October 24.
- Continuing claims dropped to 1.701 million in the week ended October 17.
- The Federal Reserve maintained its benchmark interest rate between 3.75% and 4.00%.
The number of Americans filing new claims for unemployment benefits fell to 194,000 in the week ended October 24, hovering near a 57-year low and signaling continued labor market resilience. Economists had forecast 199,000 claims. The number of people receiving unemployment benefits after an initial week of aid dropped 21,000 to 1.701 million during the week ended October 17. The Federal Reserve on Wednesday left its benchmark overnight interest rate in the 3.75%-4.00% range, acknowledging that inflation remains elevated.