US Weekly Jobless Claims Fall to 219,000 Amid Labour-Market Standoff

New estimates show initial jobless claims in the U.S. dropped to about 219,000 for the week ending October 25, down from 232,000 a week earlier. 

The data comes amid a government shutdown but states still submitted unemployment filings, allowing economists to estimate using seasonal-adjusted models. 

While the labour market remains stable, hiring appears weak and layoffs are rising in some sectors such as tech and automotive. 

The number of people continuing to receive unemployment benefits edged up to roughly 1.957 million — a level that echoes slow hiring trends. 

Economists say the low claims level undermines the need for another rate cut by the Federal Reserve, which recently reduced its benchmark rate to 3.75 %-4.00 %. 

Still, the job market is described as “low-hire, low-fire”, meaning firms are holding onto workers but cautious about expanding. Analysts warn the muted pace of hiring may pose risks if conditions worsen further.