Initial unemployment claims held below 200,000 for a third straight week (only ninth week since 1969), while continuing claims dropped to their lowest since March 2023. After bottoming at 189,000 in mid-July — the lowest reading since 1969 — initial jobless claims have barely budged, this week edging down 1,000 to 197,000 in the week through September 26 (from a revised 198,000 the prior week). That keeps them below 200,000 for a third straight week and only the ninth week since 1969 (all post-pandemic), leaving claims near cycle lows at the bottom of the relatively narrow range that has held since November 2021. The four-week average fell 2,500 to 200,000 (roughly 34,000 lower year-over-year), a seven-week low.
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