US jobless claims hover near 57-year low for fourth consecutive week
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓US jobless claims fell to 197,000 for the week ended October 3, staying near 57-year lows for four weeks.
- ✓While layoffs remain low, job growth stayed weak with only 29,000 new roles in September.
- ✓"It's still a 'low-hire, low-fire' job market," said economist Heather Long, noting challenges for job seekers.
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- MARKET
- Reported By
- Economic Times
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- 4 Minute(s)
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- India Economy
In a recent report, weekly unemployment claims saw a slight drop of 2,000, totaling 197,000, which suggests some stability within the job market. Nonetheless, nonfarm payroll growth remained disappointing, with just 29,000 jobs created in September. Additionally, there was an increase of 17,000 in ongoing unemployment benefits, highlighting challenges faced by new job seekers amid geopolitical uncertainties and a tightening labor pool.
The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued labor market stability despite a sharp slowdown in job growth in September.
Weekly jobless claims have now remained near 57-year lows for four straight weeks, the report from the Labor Department showed on Thursday, amid historically low layoffs.
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