US weekly jobless claims edge lower, in line with expectations

US News

The number of Americans filing for state unemployment benefits fell slightly from the previous week, highlighting the increasingly tight labor market.

First-time claims for state unemployment benefits totaled 214,000 in the week ended November 3, matching expectations of economists polled by Reuters. The number of claims filed the previous week rose by 1,000 to 215,000, the Labor Department said.

Continuing claims, a four-week moving average that is considered a better measure of labor market trends, fell to 213,750.

The labor market is viewed as being near or at full employment. There are a record 7.14 million open jobs in the economy, suggesting a shortage of skilled workers.

Reuters contributed to this report.