U.S. jobless claims fall to the lowest level since July as continuing claims hit a three-year low

Initial jobless claims in the United States edged down to their lowest level since July, while continuing claims fell to a three-year low, pointing to a labor market that remains in solid shape. Continuing claims dropped by 11,000 to 1.7 million, the lowest reading since March 2023. Over the past several months, initial claims have stayed near historically low levels, a sign that companies have been reluctant to cut workers even as economic activity holds up. At the same time, hiring has become more cautious. The government is scheduled to release its nonfarm payrolls report on Friday, and the report is expected to show that the unemployment rate held at 4.1% in September. The four-week moving average of initial claims also declined to 200,000, marking a seven-week low. On an unadjusted basis, most states reported fewer new claims, including Hawaii, Georgia, and Texas. The figures were cited by Odaily, which referenced Jin10.