The number of Americans filing unemployment benefit claims fell below 200,000 for the fifth time this year, according to new government data.
Initial jobless claims fell by 10,000 to 196,000 for the week ending Sept. 12, from 206,000 in the previous week, according to a Department of Labor report released on Thursday.
This came in firmly below the consensus estimate of 208,000 and marked the third-lowest level since 1969.
Stripping out week-to-week volatility, the four-week average fell to 203,250, from 206,000.
Unemployment claims have hovered in a historically low range of 189,000 to 230,000 this year, as companies refrain from following through on widespread layoffs.
“The data sends a clear message: the U.S. labor market remains resilient, and layoff activity is not accelerating,” Chris Osmond, CIO for Fifth Third Wealth Advisors, told The Epoch Times in an emailed note….