#USJoblessClaimsDrop U.S. Initial jobless claims unexpectedly fell last week, as nonfarm payrolls may rebound

The number of people filing for unemployment benefits unexpectedly fell last week. This suggests that after a sudden slowdown last month due to hurricanes and strikes, nonfarm payrolls growth may be recovering, and the nonfarm payrolls report could determine whether the Federal Reserve will cut interest rates again. The U.S. Labor Department said on Thursday that initial claims for state unemployment benefits fell by 6,000 to a seasonally adjusted 213,000 for the week. The data includes the Veterans Day holiday, which can cause some volatility. Despite a sharp increase in unemployment claims in early October due to disruptions caused by Hurricanes Helen and Milton, as well as worker strikes at Boeing and another aerospace company, layoffs have remained low, reducing the impact of the hiring slowdown on the labor market.