Jobless claims tumble to 218,000, well below estimate despite fears of labor market weakness

Labor Market - Initial jobless claims surprisingly low at 218,000, the lowest since the third week of July [1] - The market expected initial jobless claims around 234,000 [1] - Continuing claims also on the light side, at 1.926 million [1] Interest Rate Implications - The unexpectedly low jobless claims are likely to put upward pressure on interest rates [1]