The decline in initial claims points to a labor market that — while cooling — has seen relatively limited layoffs. Most companies are choosing to hold onto workers even as lingering economic uncertainty keeps a lid on hiring.
Initial applications for jobless benefits in the US fell to the lowest since mid-July, underscoring how companies remain reticent to lay off workers.
New claims decreased by 14,000 to 218,000 in the week ended Sept. 20, according to Labour Department data released Thursday. That was much lower than the median forecast in a Bloomberg survey of economists, which called for 233,000 applications.
