A sign advertising jobs stands near the SMART Alabama, LLC auto parts plant and Hyundai Motor Co. subsidiary, in Luverne, Alabama U.S. July 14, 2022. REUTERS/Joshua Schneyer
Weekly jobless claims fall 1,000 to 217,000
Continued claims increase 47,000 to 1.485 million
Productivity rebounds at 0.3% rate in third quarter
Services sector activity slows in October
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong despite slowing domestic demand amid stiff interest rate hikes from the Federal Reserve to tame inflation.
Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Andrea Ricci
