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US jobless claims fell to 194,000 last week, lowest since July
Employers continue to hold onto workers as the four-week average slips to 197,750, reinforcing a low-hire, low-fire labor market.
- 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.
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92 Articles
92 Articles
New unemployment benefit applications in America declined to 194,000 during the week ending 17 October, in an indication of the stability of the labour market, amid concerns about the impact of inflation and the high interest on employment.
Coverage Details
Total News Sources92
Leaning Left10Leaning Right19Center18Last UpdatedBias Distribution41% Right
Bias Distribution
- 41% of the sources lean Right
41% Right
L 21%
C 38%
R 41%
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