U.S. Weekly Initial Jobless Claims Fall to 189,000, Lowest in 57 Years

"Low-Hire, Low-Fire" State Persists

Weekly initial jobless claims in the United States fell to their lowest level in 57 years.

The U.S. Department of Labor said initial claims totaled 189,000 last week (October 25-31), down 6,000 from the previous week. The figure was below the market forecast of 197,000 compiled by Dow Jones and matched the lowest level since 1969, recorded in mid-July.

A worker stocks products at a supermarket in New York. New York, U.S. = Correspondent Hwang Yunju.

Initial jobless claims in the United States have remained below 200,000 since mid-September. By contrast, continuing claims, filed by people who have been receiving unemployment benefits for at least two weeks, totaled 1.718 million in the week of October 18-24, up 23,000 from the previous week.

The U.S. labor market remains in a "low-hire, low-fire" state, with new hiring slowing while layoffs remain historically low.

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