US Weekly Unemployment Claims Drop to Lowest Since July

Weekly initial unemployment claims in the United States totaled 196,000, marking the lowest level since July, according to the U.S. Department of Labor. The department reported that claims for the week ending September 12 decreased by 10,000 from the previous week. Continuing claims stood at 1.73 million, reaching a 2024 low.

While Labor Day and school start dates may have contributed to some seasonal fluctuations, Bloomberg noted that overall labor market layoffs remained limited in trend.