U.S. Unemployment Claims Dip to 197,000, Lowest Since Mid-July
The four-week average also fell to 200,000 as businesses kept layoffs low, signaling a steady labor market ahead of the monthly jobs report.
- On Thursday, the Labor Department reported that initial American jobless claims fell to 197,000 for the week ended September 26, declining by 1,000 from the previous week's revised 198,000 and defying economist forecasts of 200,000.
- Businesses remain reluctant to reduce staff after COVID-19 lockdowns ended, keeping claims below 220,000 this year as American workers continue to enjoy job security despite economic headwinds.
- The four-week average of claims dropped by 2,500 to 200,000, while the American job market remained sturdy despite higher energy prices since the conflict with Iran began Feb. 28.
- FactSet forecasters anticipate the Labor Department will release its September jobs report next week, expecting employers added 90,000 positions with unemployment holding steady at 4.1%.
- Hiring remains well below the 166,000 monthly average recorded in 2023 and 2024, reflecting a cooling trend compared to the 491,000 monthly jobs added during the 2021-2022 hiring boom following COVID-19 lockdowns.
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US jobless claims fall to lowest since mid-July
The number of people applying for US unemployment benefits dipped last week to the lowest level since mid-July as lay-offs remain low and most American workers enjoy job security. The Labor Department said on Thursday that initial jobless claims ticked down to 197,000 from a revised 198,000 the week before. The four-week average of claims, which smooths out week-to-week volatility, dropped by 2,500 to 200,000. Claims for jobless benefits are a p…
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U.S. Jobless Claims Fall to 197,000 as Layoffs Remain Near Historic Lows
New applications for unemployment benefits fell to 197,000 in the latest week, reaching their lowest level since mid-July and pointing to continued job security for ... The post U.S. Jobless Claims Fall to 197,000 as Layoffs Remain Near Historic Lows first appeared on [your]NEWS.
The number of new jobless claims in the United States came in lower than expected. This means that U.S. companies are continuing active economic activity and are reluctant to lay off employees. When the labor market is this strong, the Federal Reserve (Fed), the U.S. central bank, has less reason to lower interest rates and inject liquidity to stimulate the economy. The U.S. Department of Labor reported that new jobless claims for the week of Se…
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