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US jobless claims fall to 197K, keeping layoffs contained
Continuing claims improved, with insured unemployment holding at 1.1% in the latest data.
US initial jobless claims edged down to 197K in the week ending September 26, slipping slightly below the 199K consensus, according to Action Forex.
The prior week’s figure was revised up, but the four-week moving average fell from 202.5K to 200.0K, reinforcing a picture of layoffs that is not accelerating.
Continuing claims also improved, with insured unemployment declining from a revised 1.712 million to 1.701 million and the insured unemployment rate holding steady at 1.1% in the week ending September 19.
Action Forex said the release was modestly positive for the labor-market picture, noting that claims remain close to 200K ahead of Friday’s NFP report.