The number of initial jobless claims in the United States is close to a 57-year low

Last week, the number of new applications for unemployment benefits in the United States fell to the lowest level in nearly 57 years, with layoffs decreasing and the labor market stabilizing. Data from the U.S. Department of Labor today shows that for the week ending October 17, the preliminary number of applications for unemployment benefits in various states decreased by 6,000, adjusted for seasonal variations, to 194,000. This figure is close to the 189,000 level reached in mid-July, the lowest since 1969.

Economists believe that strong domestic demand in the United States has driven profit increases, protecting workers from layoffs. However, as the war between the U.S. and Iran intensifies, tightening financial conditions and rising interest rates may suppress the performance of the labor market next year.