The number of first-time jobless claims in the US fell to its lowest level since July, while the number of continuing claims fell to its lowest level in more than two years, further indicating that the labor market remains stable. According to data released by the US Department of Labor on Thursday, the number of first-time jobless claims dropped by 10,000 to 196,000 in the week ending September 12, one of the lowest readings since 1969. This statistical period includes Labor Day, and unemployment claim data may fluctuate greatly around the holidays. The four-week moving average of first-time jobless claims fell to 203.25 million, the lowest in five weeks. This indicator helps smooth out fluctuations in weekly data. The drop in first-time applicants may reflect seasonal fluctuations due to Labor Day and the start of the new school year. Even so, the broader trend shows that with the exception of a few layoffs that have received widespread attention, layoff activity in the US economy as a whole is still sluggish. The number of continuous applicants dropped to 1.73 million in the week ending September 5, the lowest level since 2024.

The number of first-time jobless claims in the US fell to its lowest level since July, while the number of continuing claims fell to its lowest level in more than two years, further indicating that the labor market remains stable. According to data released by the US Department of Labor on Thursday, the number of first-time jobless claims dropped by 10,000 to 196,000 in the week ending September 12, one of the lowest readings since 1969. This statistical period includes Labor Day, and unemployment claim data may fluctuate greatly around the holidays. The four-week moving average of first-time jobless claims fell to 203.25 million, the lowest in five weeks. This indicator helps smooth out fluctuations in weekly data. The drop in first-time applicants may reflect seasonal fluctuations due to Labor Day and the start of the new school year. Even so, the broader trend shows that with the exception of a few layoffs that have received widespread attention, layoff activity in the US economy as a whole is still sluggish. The number of continuous applicants dropped to 1.73 million in the week ending September 5, the lowest level since 2024.