Applications for US jobless benefits fall to lowest level in more than 8 months

The number of Americans filing for unemployment benefits in the U.S. has reached its lowest level in eight months. Jobless claims fell by 13,000 to 198,000 for the week ending October 14, surpassing analysts' expectations. However, the number of Americans remaining on the unemployment rolls has increased to its highest level in three months. This could be attributed to the fact that while fewer people are being laid off, those who are unemployed are struggling to find new work.