U.S. Jobless Claims Unexpectedly Fall to 194,000, Beating Economist Forecasts

First-time claims for U.S. unemployment benefits unexpectedly declined to 194,000 in the week ended October 17, the Labor Department reported Thursday, a decrease of 6,000 from the previous week's revised level of 200,000. Economists had expected claims to inch up to 200,000 from the 199,000 originally reported for the prior week. The less volatile four-week moving average also edged down to 197,750, a decrease of 1,000 from the previous week's revised average of 198,750. The stronger-than-expected labor market data suggests employers remain reluctant to cut staff despite broader economic uncertainty.