The Economic Times

US jobless claims fall to lowest level since July, labour market stays resilient

The US labor market demonstrated resilience as new unemployment claims dropped to 197,000 last week. Initial jobless claims decreased from 198,000, indicating ongoing stability in hiring practices. Employers added an average of 80,000 jobs monthly in 2023, with 162,000 jobs added in August. Job growth remained below the averages recorded in previous years, including the 2021-22 hiring boom.