Initial claims for state unemployment benefits fell by 12,000 to a seasonally adjusted 216,000 for the week ending Oct. 26, as the impact of Hurricanes Helene and Milton diminished. The number of people receiving ongoing benefits also decreased by 26,000 to 1.862 million. Despite these fluctuations, the overall labor market remains stable, with planned layoffs dropping 23.7% to 55,597 in October.
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