US jobless claims hit a three-month low, giving the Fed more room to keep rates elevated
📉 Initial jobless claims fell by 6,000 to 194,000 in the week ended October 17, below the 200,000 forecast. Layoffs remain low as businesses continue to retain workers.
🔎 However, continuing claims rose by 25,000 to 1.728 million in the week ended October 10. Together, the figures suggest a low-layoff, slow-hiring market where those who lose their jobs may struggle to find new work.
🏦 For the Fed, this weakens the case for cutting rates soon to support employment. Labor market resilience leaves policymakers room to focus on inflation, although this report alone does not establish a need for another rate hike.
#USLabor $JCT