Claims edge down again

Initial claims for US unemployment benefits fell by 1,000 to a seasonally adjusted 194,000 in the week ending 24 October 2026, the Labor Department reported on Thursday 29 October. The figure came in below the 199,000 forecast in a Reuters poll of economists and marked the second weekly decline in a row.

It was the lowest initial claims count since mid-July, when claims touched 189,000 — the lowest reading since 1969. Claims have stayed mostly below 200,000 since mid-September, within sight of that July low, in a sign that layoffs remain historically restrained even as hiring has slowed.

Continuing claims at a three-year low

Continuing claims, which count people still receiving benefits after an initial week of aid and act as a proxy for hiring, fell by 21,000 to a seasonally adjusted 1.701 million in the week ending 17 October — their lowest level in more than three years. That week was the reference week for the household survey behind October's unemployment rate; the jobless rate stood at 4.2% in September.

Initial claims filed by federal employees, closely watched during the administration's push to shrink the public sector, fell by 113 to 442, remaining well below historical levels. The next weekly claims report is due on Thursday 5 November, covering the week ending 31 October.

Sources: Trading Economics / Labor Department data | Reuters