Unemployment Benefit Claims Dipped Slightly Last Week as Layoffs Remain Low
Claims held near 57-year lows as employers kept workers on payrolls despite sluggish hiring and a September gain of just 29,000 jobs, economists said.
- The Labor Department reported initial state unemployment claims fell to 197,000 for the week ended October 3, keeping claims near 57-year lows as layoffs remain subdued.
- Claims have held near 57-year lows for four straight weeks, consistent with what economists described as a "low-hire, low-fire" labor market where employers retain workers despite sluggish hiring.
- Nonfarm payrolls increased just 29,000 jobs in September while the unemployment rate ticked up to 4.2%, and continuing claims rose 17,000 to 1.716 million for the week ended September 26.
- Federal Reserve minutes published Wednesday showed officials judged labor market conditions as stable and close to maximum employment, though policymakers raised the benchmark rate to 3.75%-4.00% last month.
- Economic uncertainty from tariffs and the US-Israeli war with Iran has pushed commodity prices higher, while median unemployment duration reached 11.5 weeks, near a 4-1/2-year high, complicating the labor market outlook.
31 Articles
31 Articles
The Economic Times
US weekly jobless claims fall as layoffs remain low
Claims have held near 57-year lows for four straight weeks, consistent with what economists said remained a "low-hire, low-fire" labor market. Nonfarm payrolls increased by a paltry 29,000 jobs in September, the government reported last week.
The Korea Times
Unemployment benefit claims dipped slightly last week as layoffs remain low
WASHINGTON — The number of people applying for U.S. unemployment benefits fell slightly last week as layoffs remain low and most American workers enjoy job security. The Labor Department said Thursday that initial jobless claims ticked down to 197,000 from a revised 199,000 the week before. The four-week average of claims, which smooths out week-to-week volatility, dropped by 2,500 to 198,000. Claims for jobless benefits are a proxy for layoffs,…
The unemployment insurance claims in the United States fell to 197 thousand in the week closed on October 3, a decrease of 2 thousand compared to the number of the previous week, according to data released on Thursday (8) by the Department of Labour. The result came below the market consensus of 200 thousand. The four-week moving average was 198 thousand, a decrease of 2.5 thousand compared to the revised average of the previous week. Already th…
(New York = Yonhap News) Correspondent Lim Soo-jung = New unemployment claims in the U.S. have decreased slightly, indicating that corporate layoffs remain at a low level.
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