Slight rise in US jobless claims amid steady layoffs

The number of Americans filing for new unemployment benefits rose slightly last week amid a continued decline in layoffs. The US Department of Labor announced in a statement released on Thursday that initial state jobless claims increased by 1,000 to 199,000 on a seasonally adjusted basis during the week ending October 10. This marks the fifth consecutive time that jobless claims have remained below the 200,000 threshold, a reading consistent with economists' characterization of the US labor market as experiencing a slowdown in both hiring and layoffs. Economists polled by Reuters had previously forecast jobless claims to rise to 200,000 for the past week, leaving the actual reading slightly below expectations.