From The Economic Times · Reuters · · 1m
US Jobless Claims Near 57-Year Low
US jobless claims hit 57-year low for fourth week as labor market stabilizes.
In brief
US jobless claims hit 57-year low for fourth week as labor market stabilizes. US jobless claims fell to 197,000 for the week ended October 3, marking four consecutive weeks near 57-year lows. Originally reported by The Economic Times.
US jobless claims
Weekly jobless claims fell to 197,000 for the week ended October 3, 2026.
Labor market stability
Claims have remained near 57-year lows for four consecutive weeks, indicating continued labor market stability.
Economists' view
Heather Long, chief economist at Navy Federal Credit Union, described the job market as 'low-hire, low-fire'.
“It's still a 'low-hire, low-fire' job market”
Federal Reserve action
The Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00% in its latest move.
Job growth slowdown
Nonfarm payrolls increased by 29,000 jobs in September, the weakest job growth since 2022.
Continued claims
Continued claims rose 17,000 to 1.716 million, a 3-1/2-year low for the week ended September 26.
Unemployment rate
The unemployment rate stood at 4.2% in September, near a 4-1/2-year high.
The short version
US jobless claims fell to 197,000 for the week ended October 3, marking four consecutive weeks near 57-year lows.
