US Jobless Claims Slip to 197K as Layoffs Stay Contained - Action Forex

US initial jobless claims fell from a revised 199K to 197K in the week ending October 3, coming in below the 200K consensus and pointing to continued restraint in layoffs. The four-week moving average also declined from 200.5K to 198K , reinforcing the picture of a labor market that has cooled without showing signs of a sharper deterioration. Initial claims also remained well below the 233K level recorded in the comparable week a year earlier. Continuing claims provided a mild counterpoint, rising from a revised 1.699M to 1.716M in the week ending September 26. Even so, the insured unemployment rate held at 1.1% , while the four-week average of continuing claims fell from 1.723M to 1.711M .