US Jobless Claims Fall Near 57-Year Lows
New applications for US unemployment benefits drifted close to 57-year lows last week while layoffs decreased in September. This suggests labor market stability persisted even as employers remained cautious about boosting hiring.
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United States jobless claims fell to 197,000 last week while September layoffs dropped 18% to 43,281, signaling persistent labor market stability. The resilient employment data follows robust consumer spending in August despite escalating economic headwinds. Strong corporate balance sheets are currently shielding workers from layoffs, though elevated energy costs loom.
