The number of initial jobless claims in the United States rose slightly last week, and the market is focused on the Federal Reserve's interest rate meeting

According to the Zhitong Finance APP, the number of initial jobless claims in the United States rose slightly last week but remains close to pre-pandemic average levels. Data released by the U.S. Department of Labor on Thursday showed that for the week ending November 2, initial jobless claims increased by 3,000 to 221,000, in line with market expectations.

For the week ending October 26, the number of continuing jobless claims rose to 1.89 million, the highest level since November 2021, possibly reflecting the ongoing impact of last month's storms and strikes.

In recent weeks, the number of initial jobless claims has fluctuated due to Hurricane Milton and Hurricane Helen affecting parts of the southeastern United States. Meanwhile, a prolonged strike by Boeing (BA.US) employees has led to temporary layoffs at some Boeing suppliers.

However, as the impact of the storms gradually diminishes, the number of initial jobless claims has decreased. Boeing workers reached an agreement on Tuesday to end the strike, which means the spillover effects will also soon weaken.

Last week, the unadjusted initial jobless claims increased. California, Michigan, and Ohio saw the largest increases in initial jobless claims, while Florida and Georgia experienced declines.

The market expects the Federal Reserve to cut interest rates by 25 basis points on Thursday. With inflation slowing, Federal Reserve policymakers have been closely monitoring the labor market since cutting rates by 50 basis points in September