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US Jobless Claims Hit Lowest Level Since July Amidst Slowing Hiring, Low Layoffs
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CNBC TV18•01-10-2026, 20:49
US Jobless Claims Hit Lowest Level Since July Amidst Slowing Hiring, Low Layoffs
- •Applications for US unemployment benefits fell to 197,000 last week, the lowest since mid-July, indicating employers are still laying off relatively few workers.
- •The four-week moving average for jobless claims decreased by 2,500 to 200,000, smoothing out weekly fluctuations.
- •The labor market remains steady despite higher energy costs, with employers retaining workers due to lessons learned from post-pandemic labor shortages.
- •Companies are becoming more cautious about adding new workers, with an average of 80,000 jobs added monthly this year, significantly lower than previous years.
- •The upcoming September employment report is expected to show 90,000 jobs added and the unemployment rate remaining at 4.1%, suggesting a cooling labor market due to slower hiring rather than increased job cuts.
Key Questions Answered
Initial jobless claims fell to 197,000 in the week ended September 26, reaching their lowest level since mid-July.
Economists surveyed by FactSet expect that employers added 90,000 jobs during September, with the unemployment rate forecast to remain at 4.1%.
Employers across businesses, government agencies, and non-profit organisations have added an average of 80,000 jobs a month so far this year.
