Four-week average of jobless claims dips to 196,750
The number of Americans filing new applications for unemployment benefits fell to 194,000 last week, the lowest level since mid-July, the Labor Department reported Thursday. Weekly claims were down from a revised 195,000 the week before.
The four-week average of claims, which strips out week-to-week volatility, declined to 196,750. Applications for jobless benefits are a proxy for layoffs, and economists watch them closely because they can provide signs of where the job market is headed. So far this year, claims have never topped 230,000 in a single week and have come in at or below 200,000 for seven straight weeks — readings that reflect low layoffs and widespread job security for most American workers.
Employers — companies, government agencies and nonprofits — have added an average of 68,000 jobs a month so far this year, including 29,000 last month, according to the Labor Department. That is an improvement on a lackluster 2025, when monthly job creation averaged 9,700 as high interest rates and President Donald Trump’s unpredictable trade policies discouraged hiring, according to the report.
Consumer spending has remained resilient, and a surge in investment in artificial intelligence has lifted economic growth, the report said.
The Labor Department is scheduled to release hiring figures for October next Friday, Nov. 6. Forecasters surveyed by the data firm FactSet expect the report to show that the economy added 55,000 jobs in October.