#CNBC Jobless claims tumble to 218,000, well below estimate despite fears of labor market weakness

Jobless claims tumble to 218,000, well below estimate despite fears of labor market weakness
Jobless claims totaled a seasonally adjusted 218,000, down 14,000 from the prior week’s upwardly revised figure and significantly less than the consensus estimate for 235,000. Continuing claims, which run a week behind, were little changed, falling 2,000 to 1.926 million.

The release comes just a week after the Federal Reserve voted to lower its benchmark borrowing rate by a quarter percentage point to a range of 4%-4.25%.

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