Wire flash
US Initial Jobless Claims Fall to 197,000 Last Week, Labor Market Stabilizing
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
The US Labor Department reported on Thursday that initial jobless claims for the week ending September 19 fell by 1,000 to a seasonally adjusted 197,000, below the economist forecast of 201,000. The current level is near a 57-year low, partly due to difficulties in seasonal adjustment around holidays like Labor Day. The underlying trend suggests the labor market is stabilizing after a period of weakness over the summer, supported by low layoff levels. However, economists note that businesses remain reluctant to significantly increase hiring. Factors cited include potential energy price increases from a US-Israel conflict with Iran, import tariff headwinds, tighter immigration policy, and a shrinking labor supply due to retiring baby boomers.
Source report
September 24 (Jin10 Data) — The number of Americans filing for unemployment benefits declined last week, indicating that the labor market is stabilizing.
According to the U.S. Department of Labor, seasonally adjusted initial claims for state unemployment benefits for the week ending September 19 fell by 1,000 to 197,000. Economists had forecast 201,000 claims.
Key highlights from the report:
- Current claims remain at a 57-year low, partly due to difficulties in adjusting seasonal data around holidays with shifting dates, such as Labor Day.
- So-called "residual seasonal factors" tend to push initial claims lower as the year-end approaches.
- The underlying trend in initial claims remains consistent with broader labor market conditions.
The labor market, which experienced weakness through much of the summer, is now showing signs of renewed stabilization. Low layoff levels are one of the supporting factors.
However, businesses remain reluctant to significantly increase hiring. Economists point to several headwinds affecting hiring intentions:
- Rising energy prices linked to the conflict between the U.S., Israel, and Iran
- Import tariffs creating economic drag
- Tighter immigration policies
- A shrinking labor supply due to an increase in retirees
Source
金十数据Neutral / independent
Part of this Story
US weekly jobless claims fall to 197,000, a 57-year low, signaling labor market stabilization