FX.co ★ US Jobless Claims Fall Toward 6-Decade Low

The number of people filing for unemployment benefits fell by 1,000 to 197,000 in the second week of September, the lowest level since July’s 60-year trough of 189,000 and below market expectations of 201,000. Continuing claims, a measure of ongoing unemployment in the US, edged up by just 2,000 to 1,719,000 in the preceding week from a downwardly revised figure, remaining close to their lowest level in more than three years. The data underscore the continued strength of the US labor market, which the Federal Reserve still characterizes as being at or near full employment. Meanwhile, initial claims filed by federal employees — which have drawn attention amid signals from the administration that it intends to reduce the size of the public sector — declined by 38 to 362, remaining well below historical norms.