US weekly jobless claims fall to 197,000, near historic lows as layoffs stay low
New Delhi, Sept. 24 -- The number of Americans filing new claims for unemployment benefits fell last week, pointing to a firming labour market.
The Labour Department show that 197,000 people filed for unemployment benefits last week, down from a revised 198,000 the week before.
Claims are near 57-year lows, partly due to difficulties seasonally adjusting the data around moving holidays such as Labour Day. Economists have also noted what they call residual seasonality, which tends to push claims lower as the year winds down.
Meanwhile, the four-week moving average of jobless claims, which helps smooth out weekly fluctuations, also declined to 202,250 from 204,000 a week earlier.
In fact, so far this year, claims have mostly remained be...
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