{
  "id": 18325161,
  "title": "US labour market holds firm as weekly lay-offs tumble to 57-year low",
  "url": "https://urgent.news/2026/11/05/us-labour-market-holds-firm-as-weekly-lay-offs-tumble-to-57-year-low",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T14:31:21.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/news/world/united-states-canada/article/3373451/us-labour-market-holds-firm-weekly-lay-offs-tumble-57-year-low"
  },
  "original_language": "en",
  "account": "In the latest report from the US Labour Department, the number of workers filing new claims for unemployment has hit a 57-year low, with initial claims falling 6,000 to 189,000 for the week ending October 31. This figure matches the lowest reading since 1969 and has remained below 200,000 since mid-September. The decline in lay-offs is attributed to strong domestic demand and profit growth, but hiring is still limited by uncertainty surrounding the ongoing conflict between the US and Iran. As of September, there were 1.06 open jobs for every unemployed person, up from 1.02 in August, indicating a potential tightening of the labour market. However, some economists believe the low jobless claims could be due to a smaller labour force resulting from an immigration crackdown rather than fewer job cuts. In October, US-based employers announced 43,994 job cuts, up 2% from September but the lowest since October 2023. Despite the rise in job cuts, employers plan to hire 444,692 workers last month, a 57% increase from October 2025. However, these hiring plans are largely short-term, seasonal jobs aimed at meeting holiday demand without adding permanent headcount. The report also revealed that the number of people receiving unemployment benefits after the initial week of aid, known as continuing claims, increased by 23,000 to a still-low seasonally adjusted 1.718 million during the week ending October 24. But this figure does not include recent college graduates and others with little or no work history, which may keep continuing claims at relatively low levels. The claims report is separate from the government's closely watched employment report for October, which will be released on Friday. Economists forecast that nonfarm payrolls increased by 65,000 jobs last month, after rising 29,000 in September, with the unemployment rate expected to remain unchanged at 4.2%.",
  "summary": "The number of Americans filing new claims for unemployment slipped to a 57-year last week as lay-offs remained low against the backdrop of a resilient labour market. Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 189,000 for the week ended October 31, the Labour Department said on Thursday. Economists had forecast 196,000 claims for the latest week. Claims…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}