U.S. unemployment claims hit 57-year low
U.S. new unemployment benefit claims fell to 194,000 for the week ending October 17, marking the lowest level since 1969. This comes despite expectations of around 200,000 claims, reflecting companies' continued hesitation to lay off workers due to strong profits and steady domestic demand. Data indicate that the labor market remains stable, even amid rising borrowing costs and tightening monetary policy. However, economists warn that higher interest rates and increasing costs could weaken the job market by 2027, as inflation and energy prices continue to rise.
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