US jobless claims fall to 197,000, lowest since July, signaling stable labor market
The number of Americans filing new unemployment benefits fell to 197,000 for the week ending September 19, the lowest since July and among the lowest readings since 1969. Continuing claims held steady at 1.72 million. The data indicates layoffs remain rare, though hiring has been uneven. Unadjusted claims rose in California, Hawaii, and New York.
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US Jobless Claims Fall to Lowest Since July, Signaling Resilient Labor Market
The number of Americans filing new applications for unemployment benefits fell to the lowest level since July, indicating that layoffs remain rare in a broadly stable labor market. Data from the Labor Department on Thursday showed initial jobless claims for the week ending September 19 decreased by 1,000 to 197,000, one of the lowest readings since 1969. Continuing claims, a proxy for the number of people receiving benefits, were largely unchanged at 1.72 million in the week ending September 12, hovering near the lowest level since 2023. Initial claims have remained near historic lows in recent months as employers are reluctant to lay off workers. However, hiring has been uneven, offering limited opportunities for Americans who feel stuck in their current jobs or are on the margins of the job market. The four-week moving average of new claims, which smooths out volatility, fell to 202,250, a six-week low. On an unadjusted basis, claims rose, driven by increases in California, Hawaii, and New York. Economist Eliza Winger commented that mid-September claims remain exceptionally low, pointing to stable labor market conditions, and that the few industries conducting layoffs appear focused on efficiency gains, with no signs yet that rising interest rates are driving job cuts, even in rate-sensitive sectors.
Read sourceUS Jobless Claims Fall to Lowest Since July, Signaling Resilient Labor Market
The number of Americans filing new applications for unemployment benefits dropped to 197,000 in the week ending September 19, the lowest level since July and one of the lowest readings since 1969, according to data from the Labor Department released Thursday. This represents a decrease of 1,000 from the previous week. Continuing claims, a proxy for people receiving benefits, were largely unchanged at 1.72 million in the week ending September 12, hovering near the lowest level since 2023. The data indicates that layoffs remain rare in a broadly stable labor market, though hiring has been uneven, offering limited opportunities for some workers. The four-week moving average of initial claims, which smooths out volatility, fell to 202,250, a six-week low. On an unadjusted basis, claims rose, driven by increases in California, Hawaii, and New York. Economist Eliza Winger commented that the mid-September claims figures remain 'unusually low,' pointing to stable labor market conditions, and noted that the few sectors conducting layoffs appear focused on efficiency improvements, with no signs yet that rising interest rates are driving job cuts, even in rate-sensitive areas.
Read sourceUS Jobless Claims Fall to Lowest Since July, Signaling Resilient Labor Market
The number of Americans filing new applications for unemployment benefits fell to 197,000 in the week ending September 19, the lowest level since July and among the lowest readings since 1969, according to Labor Department data reported by Zhitong Finance. The decline of 1,000 from the prior week indicates that layoffs remain rare in a broadly stable labor market. Continuing claims, a proxy for the number of people receiving benefits, held steady at 1.72 million in the week ending September 12, near the lowest level since 2023. The four-week moving average of new claims, which smooths volatility, fell to 202,250, a six-week low. Economist Eliza Winger commented that mid-September jobless claims remain 'unusually low,' pointing to stable labor market conditions, and noted that the few sectors conducting layoffs appear focused on efficiency improvements rather than interest rate pressures. However, unadjusted claims rose, driven by increases in California, Hawaii, and New York.
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US Jobless Claims Fall to Lowest Since July, Signaling Resilient Labor Market
The number of Americans filing new applications for unemployment benefits fell to the lowest level since July, indicating that layoffs remain rare in a broadly stable labor market, according to data released Thursday by the Labor Department. Initial jobless claims for the week ending September 19 decreased by 1,000 to 197,000, one of the lowest readings since 1969. Continuing claims, a proxy for the number of people receiving benefits, were largely unchanged at 1.72 million for the week ending September 12, hovering near the lowest level since 2023. The four-week moving average of new claims, which smooths out volatility, fell to 202,250, a six-week low. On an unadjusted basis, claims rose, driven by increases in California, Hawaii, and New York. Economist Eliza Winger commented that mid-September claims remain exceptionally low, pointing to stable labor market conditions, and noted that while some industries are focusing on efficiency improvements, there is no evidence yet that rising interest rates are driving layoffs, even in the most rate-sensitive sectors.
Read sourceUS Jobless Claims Fall to Lowest Since July, Signaling Resilient Labor Market
The number of Americans filing new applications for unemployment benefits fell to the lowest level since July, indicating that layoffs remain rare in a broadly stable labor market. According to data released Thursday by the Labor Department, initial jobless claims for the week ending September 19 decreased by 1,000 to 197,000, one of the lowest readings since 1969. Continuing claims, a proxy for the number of people receiving benefits, were largely unchanged at 1.72 million for the week ending September 12, hovering near their lowest level since 2023. The four-week moving average of new claims, which smooths out volatility, fell to 202,250, a six-week low. On an unadjusted basis, claims rose, driven by increases in California, Hawaii, and New York. Economist Eliza Winger commented that mid-September jobless claims remain exceptionally low, pointing to stable labor market conditions, and noted that the few sectors that are cutting jobs appear focused on efficiency improvements, with no signs yet that rising interest rates are driving layoffs even in the most rate-sensitive areas of the economy.
Read sourceUS Jobless Claims Fall to Lowest Since July, Signaling Resilient Labor Market
The number of Americans filing new applications for unemployment benefits fell to the lowest level since July, indicating that layoffs remain rare in a broadly stable labor market. According to data released Thursday by the Labor Department, initial jobless claims for the week ending September 19 decreased by 1,000 to 197,000, one of the lowest readings since 1969. Continuing claims, a proxy for the number of people receiving benefits, were largely unchanged at 1.72 million for the week ending September 12, hovering near the lowest level since 2023. The four-week moving average of new claims, which smooths out volatility, fell to 202,250, a six-week low. On an unadjusted basis, claims rose, driven by increases in California, Hawaii, and New York. Economist Eliza Winger commented that mid-September claims remain exceptionally low, pointing to stable labor market conditions, and noted that the few sectors that are cutting jobs appear focused on efficiency improvements, with no signs yet that rising interest rates are driving layoffs even in rate-sensitive areas.
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