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The Fed's so-called Beige Book noted that the U.S. economy has been "dampened by a low supply of workers," partially due to vaccine mandates.
First-time filings for unemployment claims totaled 290,000 for that week ended on Oct. 16, reporting that the figure was down 6,000 from the previous week.
Procter & Gamble Co. said it would begin to charge more for oral care, beauty, and razors. Earlier this year, Procter & Gamble said it would charge more for toilet paper and diapers.
The claims decreased to 293,000 last week, as compared with 329,000 a week earlier, the agency said. The four-week moving average for unemployment claims fell to 334,250-the lowest since March 2020.
First-time filings for unemployment insurance-a proxy for layoffs-came in at 362,000 for the week ending on Sept. 25, an increase of 11,000 from the previous week, the Labor Department said in a statement.
First-time filings for unemployment insurance-a proxy for layoffs-came in at 351,000 for the week ending Sept. 18, a rise of 16,000 from the previous week's revised level of 335,000.
First-time filings for unemployment insurance-a proxy for layoffs-came in at 332,000 for the week ending Sept. 11, a rise of 20,000 from the previous week's revised level of 310,000.
The median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 and the first significant decline since 2011, the Census said in its findings published Sept. 14.
Wall Street futures edged up on Thursday as investors looked to the weekly jobless claims filings.
First-time filings for unemployment insurance, a proxy for layoffs, came in at 340,000 for the week ending Sept. 2. This is the lowest weekly claims figure since March 14, 2020, when 256,000 people filed for unemployment.
Millions of Americans Set to Lose Pandemic Unemployment Benefits Next Week, No Signs of States Extending
Around 7.5 million Americans are set to fall off a "benefits cliff" as the September cutoff looms for the federal pandemic unemployment programs.