Jobless Claims Remain Near Historic Lows Despite Small Increase, Underscoring Resilient Labor Market

Initial jobless claims ticked up slightly to 207,000 in the week ending Sept. 30, remaining historically low and highlighting ongoing labor market strength.

Continuing claims were little changed at 1.7 million through Sept. 23; the resilient job market continues to power consumer spending despite high inflation and interest rates.

The monthly jobs report on Friday will provide more insights into the still healthy, though slowing, job growth.

On an unadjusted basis, claims declined to the lowest level in a year, falling most in Ohio and Alabama.

Demand for workers remains solid and earlier layoffs have largely eased, though the UAW strike could lead to more temporary layoffs of suppliers' non-striking workers.