Business News | 1. US Weekly Unemployment Claims Fall to 194,000, Hover Near 57-year Lows
Get latest articles and stories on Business at LatestLY. The number of Americans filing new applications for unemployment benefits declined by 1,000 to 194,000 in the week ending October 24, 2026, while continuing jobless claims fell by 21,000 to 1.701 million.
New Delhi [India], October 29 (ANI): The number of Americans filing new applications for unemployment benefits declined by 1,000 to 194,000 in the week ending October 24, 2026, while continuing jobless claims fell by 21,000 to 1.701 million, according to data released by the US Department of Labor on Thursday.
The number of Americans filing new claims for unemployment benefits hovered near 57-year lows last week amid labour market resilience.
Claims are within striking distance of the 189,000 level touched in mid-July, which was the lowest reading since 1969.
The department's Unemployment Insurance Weekly Claims report showed that seasonally adjusted initial jobless claims decreased from the previous week's revised level of 195,000.
"In the week ending October 24, the advance figure for seasonally adjusted initial claims was 194,000, a decrease of 1,000 from the previous week's revised level," the release stated.
The previous week's initial claims figure was revised upward by 1,000, from 194,000 to 195,000.
The four-week moving average of initial claims, which helps smooth weekly fluctuations, declined by 1,250 to 196,750 from the previous week's revised average of 198,000.
The report also showed a decline in the number of Americans continuing to receive unemployment benefits.
Seasonally adjusted insured unemployment stood at 1,701,000 in the week ending October 17, down by 21,000 from the previous week's revised level of 1,722,000.
The previous week's continuing claims figure was revised downward by 6,000, from 1,728,000 to 1,722,000.
However, the four-week moving average of insured unemployment increased marginally by 500 to 1,710,000.
The seasonally adjusted insured unemployment rate remained unchanged at 1.1 per cent during the week ending October 17.
On an unadjusted basis, actual initial claims under state unemployment programmes increased by 5,648, or 3.3 per cent, to 178,851 in the week ending October 24.
Seasonal factors had projected an increase of 6,040 claims, or 3.5 per cent, during the week. In the corresponding week of 2025, unadjusted initial claims stood at 203,012.
The advance unadjusted insured unemployment rate remained unchanged at 1 per cent during the week ending October 17.
Meanwhile, unadjusted insured unemployment increased by 14,007, or 0.9 per cent, to 1,490,071, compared with 1,708,691 in the corresponding period last year.
The report further showed that total continued weeks claimed for benefits across all unemployment insurance programmes reached 1,500,078 in the week ending October 10, an increase of 14,467 from the preceding week. The corresponding figure stood at 1,712,123 a year earlier.
State-wise data showed that Michigan recorded the largest increase in initial claims for the week ending October 17, with an additional 1,906 applications, followed by Kentucky at 471 and South Carolina at 419.
Conversely, Ohio registered the largest decline of 4,478 claims, followed by Tennessee with 2,635 fewer claims and California with a decrease of 1,930.
The department also reported that no state was triggered onto the Extended Benefits programme during the week ending October 10. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)