By Fatma Younis
Fewer Americans filed for unemployment benefits last week, pushing claims to their lowest level since mid-July, the Labor Department reported Thursday.
Claims at Historic Lows
Initial jobless claims fell to 189,000 for the week ended Oct. 28, down from 195,000 the previous week. The four-week moving average, which smooths weekly volatility, dipped to 194,750.
Claims have remained at historically low levels throughout the year, never exceeding 230,000 in a single week and holding at or below 200,000 for eight consecutive weeks, signaling scarce layoffs and strong job security.
Job Growth Improves
Employers have added an average of 68,000 jobs per month so far this year, a modest but notable improvement from 2025's average of 9,700, when high interest rates and trade policy uncertainty weighed on hiring.
Consumer spending has stayed resilient, and a surge in artificial intelligence investment has supported economic growth. The Labor Department will release October hiring figures on Friday, with forecasters expecting a gain of 65,000 jobs and the unemployment rate holding at 4.2%.
