US Jobless Claims Fall to 194,000, Near 57-Year Low

New U.S. unemployment-benefit claims fell by 1,000 to 194,000 in the week ending October 24, below economists’ expectations and near levels last seen in 1969. Claims have mostly remained below 200,000 since mid-September, reflecting a labor market with historically low layoffs but limited hiring. Continuing claims also declined, falling by 21,000 to 1.701 million. Resilient demand and corporate profits are helping employers retain workers, while uncertainty, including the U.S.-Israeli war with Iran, is discouraging some companies from expanding their workforces. The unemployment rate was 4.2% in September; the Federal Reserve kept interest rates unchanged while noting that inflation remains elevated.