Economic data spotlight: US jobless claims to test whether weak payrolls are turning into layoffs

The softer US jobs report on Friday last week continues to paint a softer picture of the labour market, yet there is still one part of the story that doesn't seem to line up.The September non-farm payrolls rose by just 29k, well below expectations of 90k, while the unemployment rate edged up to 4.2%. Meanwhile,…