US jobless claims hover near 57-year low for fourth consecutive week
WASHINGTON — The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued labor market stability despite a sharp slowdown in job growth in September. Weekly jobless claims have now remained near 57-year lows for four straight weeks, the report from the Labor Department showed on Thursday, amid historically low layoffs. Though employers are hoarding…
The number of Americans filing new claims for unemployment benefits fell last week, showing continued stability in the labor market despite a significant slowdown in job growth in September. Weekly jobless claims have remained near a 57-year low for four consecutive weeks, according to the Labor Department's report on Thursday, amidst historically low layoffs.
Although employers are conserving workers due to strong profit growth and a robust stock market, they have been cautious about increasing headcount, making it challenging for those who lose their jobs to find new opportunities. Economists attribute this trend to uncertainty stemming from tariffs and the recent US-Israeli conflict with Iran, which has driven up diesel prices to record highs and increased costs for other commodities.
Heather Long, chief economist at Navy Federal Credit Union, noted that it remains a low-hire, low-fire job market, which is excellent for those with jobs but difficult for job seekers. Initial claims for state unemployment benefits decreased by 2,000 to 197,000 on a seasonally adjusted basis.
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- US jobless claims hover near 57-year low for fourth consecutive week koreatimes.co.kr
