First-time jobless claims fell 13,000 to 239,000 last week, the Department of Labor reported Wednesday, more than the 9,000 drop economists expected.
With Wednesday’s numbers, claims have continued to hover at extremely low levels, despite the fall disruption of the hurricanes that slammed the southeastern U.S. Claims collections in Puerto Rico and the Virgin Islands are still being affected by the storms, the agency said.
Low jobless claims are a good sign for the economy. If fewer people are applying for benefits at state agencies, it suggests that layoffs are relatively rare, and job creation high.
At 4.1 percent in October, unemployment is the lowest it has been since the year 2000.