US jobless claims fell to 194,000 last week, lowest since July
Economists said low layoffs and strong demand are keeping claims near 57-year lows, even as hiring remains sluggish.
- Initial unemployment claims fell to 194,000 for the week ended October 17, The Labor Department reported on Thursday. This marks the fewest claims in three months, signaling persistently low layoffs among Americans.
- Most companies remain confident enough in the economy to hold onto workers rather than lay them off. Economists say rising profits amid strong domestic demand are shielding workers from layoffs.
- The four-week average of claims dipped to 197,750, while continuing claims increased to 1.728 million during the week ended October 10. These figures serve as proxies for hiring trends.
- Economists anticipate the Federal Reserve will hold rates steady at its meeting next week, given the unemployment rate remains at 4.2%. This suggests the labor market is not currently fueling inflation.
- Higher interest rates and the US-Israeli war with Iran fuel inflation, creating concerns that tightening financial conditions could undercut the labor market next year. These risks threaten to destabilize employment gains.
39 Articles
39 Articles
The initial applications for unemployment insurance in the United States totalled 194 thousand in the week closed on October 17, according to data released on Thursday (22) by the country's Department of Labour. The result represented a drop of 6,000 requests compared to the revised reading of the previous week and was slightly below the consensus of market analysts, of 200,000 requests. The four-week moving average of the new requests rose 250 …
Demand for unemployment aid in the US fell to 194,000, the lowest level in three months, reflecting job stability.The labour market remains firm despite the energy rise; recruitment is slow, but companies avoid massive layoffs.
US jobless claims hover near 57-year low as layoffs remain subdued
America’s jobs market is showing a curious split: employers are holding back on layoffs, yet hiring remains sluggish and more jobseekers are staying on unemployment benefits. The latest data offer a fresh test of the labour market’s resilience.
Associated Press News
US jobless claims fell to 194,000 last week, lowest since July
U.S. unemployment claims fell to 194,000 last week, the fewest in three months and another sign that layoffs remain low and most Americans enjoy extraordinary job security.
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