State-level applications for initial unemployment benefits unexpectedly fell, showing the resilience of the US labor market in challenging times.

According to the financial news app ZhiTong Finance, based on the unadjusted state-level unemployment insurance claims data released during the US federal government shutdown, the latest analysis by private statistical agencies shows that the number of initial unemployment claims in the US unexpectedly decreased last week, indicating that although the US labor market has cooled significantly compared to the hot period, it remains resilient and has not yet entered a sustained decline phase. Private agencies estimate that as of the week ending October 25th, the number of initial claims significantly decreased from the revised 231,000 people in the previous week to about 218,000 people.