US weekly jobless claims fall to 197,000, pointing to continued labour market resilience

New Delhi [India], September 24 (ANI): US initial jobless claims fell to 197,000 in the week ended September 19, suggesting continued stability in labour market conditions even as the pace of hiring and employment growth remains closely watched.
The advance figure for seasonally adjusted initial claims declined by 1,000 from the previous week's revised level of 198,000, according to data released by the US Department of Labor on Thursday. The four-week moving average also fell to 202,250 from a revised 204,000 in the previous week.
The latest reading was below the 207,000 claims recorded in the comparable week a year earlier, while the four-week average was also lower than the 236,750 recorded a year ago, indicating that new claims remain relatively contained.
The insured unemployment rate remained unchanged at 1.1 per cent for the week ended September 12. The number of people receiving unemployment benefits through state programmes, on a seasonally adjusted basis, increased by 2,000 to 1.719 million during the week.
However, the four-week moving average of insured unemployment declined by 13,000 to 1.744 million, while the comparable figure a year earlier stood at 1.926 million.
On an unadjusted basis, initial claims rose by 10,243, or 6.7 per cent, to 163,811 in the week ended September 19. The increase was broadly in line with the seasonal factors, which had anticipated a 6.8 per cent rise. Claims stood at 180,992 in the comparable week of 2025.
Continued weeks claimed for unemployment benefits across all programmes fell by 102,149 to 1.589 million in the week ended September 5, compared with 1.79 million in the corresponding week last year.
At the state level, California recorded the largest decline in initial claims in the week ended September 12, followed by Texas, New York, Michigan and New Jersey. Kentucky reported the largest increase, with claims rising by 1,041, attributed by the state to layoffs in the manufacturing industry.
The Department of Labor noted that initial unemployment claims are a leading economic indicator of emerging labour market conditions, although weekly data can be volatile because of difficulties in seasonal adjustment. (ANI)