Initial applications for US unemployment benefits slipped to 197,000 in the week ending September 26, down 1,000 from the prior week's revised level, the Labor Department reported Thursday, October 1. The previous week's estimate was revised up from 197,000 to 198,000. The four-week average, which smooths weekly swings, fell by 2,500 to 200,000.
Continuing claims, a measure of people still receiving benefits after an initial application, were 1.701 million for the week ending September 19, down 11,000 from the revised prior week. The insured unemployment rate was unchanged at 1.1%.
The data point to relatively few new layoffs, but weekly claims are volatile and do not capture every aspect of hiring or job security. The September employment report is scheduled for Friday, October 2, so that broader survey will provide a more complete picture of payrolls and unemployment.
Reader question: Does 197,000 mean the US job market is strengthening? Not by itself. It indicates fewer people filed new claims that week; the four-week average and upcoming monthly jobs report offer better context.