Business · Economy · 3 hrs ago
US Jobless Claims Fall to Near a 57-Year Low
New US unemployment benefit claims fell to 194,000 in the week ending October 17, close to a level last seen in 1969.
The figures point to few layoffs and a still-resilient US labor market, even as hiring remains weak.
The number of people who kept receiving benefits after their first week rose by 25,000 to 1.728 million.
The economy added just 29,000 jobs in September, down from 133,000 in August, and the average time spent unemployed reached 11.5 weeks.
The Middle East conflict has pushed up oil prices, while uncertainty over the war and import tariffs has held back hiring.
Economists say strong company profits, steady domestic demand and a smaller workforce have encouraged employers to keep staff.
The Federal Reserve is expected to leave rates unchanged next week, though economists expect it could raise borrowing costs again in December as inflation risks persist.
US initial jobless claims fell by 6,000 to 194,000 in the week ending October 17, near a low last seen in 1969.
The figure was below economists’ forecast of 200,000 and marked the sixth consecutive week at or below that level.
The four-week average fell to a record low of 197,750.
The report suggested job growth may have improved in October after a weak September, although hiring remains subdued.
Economists said strong company profits, domestic demand and a smaller labor force were helping employers retain workers.
- Who
- Americans filing new claims for unemployment benefits.
- What
- Initial claims fell by 6,000 to 194,000, seasonally adjusted.
- When
- The week ending October 17, 2026; the Labor Department reported the figures on Thursday.
- Where
- United States.
- Why
- Economists linked the low level of layoffs to strong company profits, continued domestic demand and a smaller labor force.
This story does not have two clearly opposing sides.
The US economy added 29,000 jobs, following an increase of 133,000 in August.
Initial jobless claims fell by 6,000 to 194,000.
The US Labor Department released the weekly claims report.
- Initial claims
- 194,000 in the week ending October 17
- Weekly change
- Down 6,000
- Economists’ forecast
- 200,000 claims
- Four-week average
- Record low of 197,750
- Continued claims
- Up 25,000 to 1.728 million in the week ending October 10
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What people are saying
may have made it more difficult for companies to find the workers they need, pushing them to hold on to their current employees
suddenly become indispensable