The Dow Jones (DJIA) opened Tuesday’s trading session in the red as the Department of Labor began to release labor data delayed by the government shutdown.
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Initial jobless claims for the week ended October 18 were 232,000, up from 219,000 for the week ended September 18. The Department of Labor has yet to publish claims data between the two time periods. However, outplacement firm Challenger, Gray & Christmas previously reported that U.S. employers announced 153,074 job cuts in October, registering the highest total for the month since 2003.
Continuing Jobless Claims Tick Higher
Continuing jobless claims, which measure the number of people who have already filed an initial jobless claim and are receiving unemployment benefits, rose to 1.957 million from 1.947 million. That marks the highest level since August.
The Bureau of Labor Statistics (BLS) is scheduled to release September’s jobs report on Thursday morning, providing key data on nonfarm payrolls and the unemployment rate. The unemployment rate, last updated in August, was 4.3%.
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