- Initial US jobless claims fell by 1,000 to 197,000 in the week ended Sept. 26
- Continuing claims dropped by 11,000 to 1.7 million, a three-year low as of Sept. 19
- Claims remain near historic lows, showing firms' reluctance to cut jobs amid growth
Applications for US unemployment benefits edged down to the lowest level since July, while continuing claims dropped to a three-year low, indicating healthy labor-market conditions.
Initial jobless claims fell by 1,000 to 197,000 in the week ended Sept. 26, according to Labor Department data released Thursday. The median estimate in a Bloomberg survey of economist was for 200,000 claims.
Continuing claims, a proxy for the number of people receiving benefits, decreased by 11,000 to 1.7 million in the week ended Sept. 19, the lowest since March 2023.
Initial claims have hovered near historically low levels for the past few months, suggesting companies are hesitant to dismiss workers amid robust economic activity. At the same time, hiring has been more measured.
The government's monthly jobs report on Friday is expected to show the unemployment rate held at 4.1% in September. Payrolls are seen rising about 85,000 in the wake of the second-biggest monthly increase since 2024.
The four-week moving average of new applications for jobless benefits, a metric that helps smooth out volatility, declined to a seven-week low of 200,000.
Before adjusting for seasonal factors, initial claims dropped in most states, including in Hawaii, Georgia and Texas.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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