US Jobless Claims Dip to 197,000 in Latest Weekly Report
Initial unemployment claims fell by 1,000 to 197,000 for the week ending Sept. 26, while the four-week average also declined.
New applications for unemployment benefits edged lower last week, signaling continued resilience in the U.S. labor market. Seasonally adjusted initial claims totaled 197,000 for the week ending September 26, a decrease of 1,000 from the prior week's revised level, the Department of Labor reported.
The previous week's figure was revised upward by 1,000, from an initially reported 197,000 to 198,000, a modest adjustment that slightly tempers the headline improvement. Even so, the current reading remains historically low, reflecting an employer base that has largely held back from large-scale layoffs despite elevated interest rates and broader economic uncertainty.
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The four-week moving average, which smooths week-to-week volatility and is widely viewed as a more reliable gauge of underlying labor market conditions, fell to 200,000. That represents a decline of 2,500 from the prior week's revised average of 202,500, itself revised up by 250 from the originally reported 202,250.
The back-to-back declines in both the weekly figure and the rolling average suggest that demand for workers has not deteriorated materially in recent weeks, even as Federal Reserve policymakers have maintained restrictive monetary policy aimed at cooling inflation. Analysts typically view claims readings below 300,000 as consistent with a healthy job market.
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