U.S. unemployment claims dip to 197,000, lowest since mid-July
Summary
The number of people applying for unemployment benefits in the U.S. dropped to 197,000 last week, the lowest since mid-July. This suggests that layoffs are low and most workers have steady jobs, even though job growth is slower compared to previous years.Key Facts
- Initial unemployment claims fell to 197,000 last week from 198,000 the week before.
- The four-week average of claims is around 200,000, which is historically low.
- Low claims indicate fewer layoffs and strong job security.
- Employers have been adding an average of 80,000 jobs per month so far in 2026.
- Job growth improved in August with 162,000 new jobs added.
- Job gains are lower than in 2023-2024 and much lower than the post-COVID hiring boom in 2021-2022.
- The September jobs report is expected to show 90,000 new jobs and a 4.1% unemployment rate.
- Higher energy prices and President Donald Trump’s trade policies have slowed hiring compared to previous years.
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