US jobless claims fall to lowest level in decades

Summarised from 2 outlets · Updated 22 Oct, 15:58 · Archive

Initial jobless claims fell to 194,000, near their lowest since the 1960s, as employers retain workers despite weak hiring.

Initial jobless claims in the United States fell to a seasonally adjusted 194,000 for the week ending 17 October, the Labour Department reported Thursday. The figure sits just above the 189,000 recorded in July, the lowest weekly total since September 1969. The four-week moving average stood at 197,750.

Employers continue to retain workers even as hiring remains weak. Nonfarm payrolls rose by only 29,000 in September and have averaged just 69,000 monthly gains in 2026. The unemployment rate rose to 4.2%, largely due to increased labour force participation. Layoffs have remained modest, declining by 61,000 in August, and the layoff rate fell to 1% of the total workforce over the prior twelve months.

Thomas Simons, chief US economist at Jefferies, said the claims data suggests labour market conditions are stable despite weak hiring and consumer concerns about job cuts. The September jobs report will be released on 5 November, with Federal Reserve officials meeting next week to decide on interest rates.

How it is being reported

• Weekly jobless claims fall near 60-year low in U.S.About 194,000 jobless claims were filed last week, nearly the lowest weekly count since the 1960s, the Department of Labor said in a report Thursday.UPI · 22 Oct, 16:08
• Jobless claims near the lowest since the 1960s as low-fire trend continuesInitial filings for unemployment insurance slipped to a seasonally adjusted 194,000.CNBC · 22 Oct, 14:58

In this story: United States · Labour Department · Federal Reserve · Jefferies

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