FX.co ★ US Initial Jobless Claims Drop to Lowest Since Mid-July

The number of people filing for unemployment benefits fell by 1,000 to 194,000 in the week ending October 24, 2026, coming in below market expectations of 199,000 and marking the lowest level for initial claims since the 60-year low of 189,000 recorded in mid-July. Continuing claims, which measure the total number of people receiving ongoing unemployment benefits in the US, declined by 21,000 to 1,701,000, the lowest reading in more than three years. The data continue to point to a resilient US labor market, consistent with the Federal Reserve’s assessment that the economy is operating at or near full employment. Meanwhile, initial claims filed by federal employees—closely watched amid the administration’s efforts to downsize the public sector—fell by 113 to 442, remaining well below historical norms.