India, Oct. 2 -- New applications for US unemployment benefits fell last week, showing that layoffs remain low despite rising costs and economic uncertainty. The latest data suggest that the US labour market is still stable, even as companies remain careful about hiring new workers, according to a report from the US Labor Department.

Initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 197,000 in the week ended September 26. Economists polled by Reuters had expected the number to reach 200,000.

New jobless claims have remained below the 200,000 mark for three consecutive weeks. The figures are close to levels last seen in 1969, pointing to historically low layoffs in the US.

Economists said healthy corp...