US jobless claims fall to 194,000 — CNBC

In the United States, the number of initial jobless claims for the week ending October 17 fell to 194,000 on a seasonally adjusted basis. This is one of the lowest figures in nearly six decades, CNBC reports.

Claims dynamics

The figure came in below expectations and was only slightly above the 189,000 claims recorded for the week ending July 18. That result was the lowest since the late 1960s.

Over the past 12 months, initial claims averaged 212,000. At the same time, the four-week average fell to 197,750 claims.

The low number of claims reflects a labor market in which employers are reluctant to hire new workers while also refraining from layoffs. In September, nonfarm payrolls increased by just 29,000, while the average monthly gain in 2026 stood at 69,000.

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Labor market conditions

The unemployment rate rose to 4.2%, mainly due to a sharp increase in labor force participation. According to the U.S. Bureau of Labor Statistics, the number of layoffs decreased by 61,000 in August.

Over the previous 12 months, the share of layoffs in the total labor force declined by 0.2 percentage points to 1%. The number of job openings remained relatively stable during this period.

Next week, the U.S. Federal Reserve will hold its next meeting on interest rates. Its officials have recently assessed the labor market as generally resilient and focused more on inflation, whose pace remains above the 2% target.