US Initial Jobless Claims Edge Down... Corporate Layoffs Remain Low

The number of initial jobless claims in the United States edged down, showing that corporate layoffs remain at a low level.

The U.S. Department of Labor announced on the 8th, local time, that initial jobless claims for the week of September 27 to October 3 stood at 197,000, a decrease of 2,000 from the previous week.

This figure is below the expert consensus estimate of 200,000 compiled by Dow Jones.

Continuing jobless claims, which measure those applying for unemployment benefits for two weeks or more, rose by 17,000 from the previous week to 1,716,000 for the week of September 20 to 26.

Initial jobless claims serve as an indicator to gauge corporate layoff trends and have hovered around the 200,000 mark this year, remaining at a historically low level.

The U.S. labor market is maintaining a stable trend, with layoffs staying low even as new hiring remains subdued.

(Photo: AP, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.