US Jobless Claims Fall to 197,000 in Late September
Initial unemployment claims dipped 1,000 to 197,000 for the week ending Sept. 26, while the four-week average also declined.
First-time applications for unemployment benefits edged down to 197,000 for the week ending September 26, a decrease of 1,000 from the prior week's upwardly revised level, the Labor Department reported Thursday. The reading signals continued resilience in the U.S. labor market.
The prior week's figure was revised up by 1,000, from an initial reading of 197,000 to 198,000, making the week-over-week decline modest but still directionally favorable. Claims at or below 200,000 are widely regarded by economists as indicative of a healthy hiring environment with limited layoff activity.
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The four-week moving average, which smooths out week-to-week volatility and is considered a more reliable gauge of underlying labor market trends, fell to 200,000. That marks a decline of 2,500 from the previous week's revised average of 202,500, itself revised up by 250 from the originally reported 202,250.
The back-to-back declines in the moving average suggest that any brief uptick in filings seen in prior weeks has not hardened into a broader trend of rising layoffs. Analysts and Federal Reserve policymakers closely track initial claims as a real-time indicator of labor market conditions and potential inflationary pressures.
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