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US Jobless Claims Fall Slightly as Labour Market Defies Hiring Slowdown
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CNBC TV18•08-10-2026, 19:33
US Jobless Claims Fall Slightly as Labour Market Defies Hiring Slowdown
- •Initial jobless claims declined by 2,000 to 197,000 for the week ended October 3, coming in below economists' expectations of 200,000.
- •Claims have hovered near five-decade lows, highlighting the ongoing resilience of the US labour market despite a recent slowdown in hiring.
- •Economists note that current market conditions reflect sluggish hiring rather than an increase in layoffs, as employers hold onto existing staff.
- •Continuing claims rose by 17,000 to 1.716 million for the week ended September 26, reflecting longer recovery times for unemployed workers.
- •Federal Reserve officials view the labour market as stable and near full employment, balancing economic uncertainties with recent interest rate hikes.
Key Questions Answered
Initial jobless claims declined by 2,000 to 197,000 in the week ended October 3, coming in below economists' expectations of 200,000 claims.
The Federal Reserve raised interest rates by 25 basis points last month to a range of 3.75% to 4.00%, while noting that labor market conditions remained stable and close to full employment.
Labour market conditions are being shaped by sluggish hiring rather than rising layoffs. A shrinking workforce driven by retirements and tighter immigration policies, alongside employer caution amid economic uncertainty, has limited job growth.
