U.S. Initial Jobless Claims Drop, Labor Market Remains Robust

According to the latest data released by the U.S. Department of Labor, the number of Americans filing for initial unemployment benefits decreased by 1,000 to 197,000 for the week ending September 19—below the market expectation of 201,000. This marks the lowest level since mid-July 2023 and one of the lowest readings since 1969.

The seasonally adjusted four-week moving average declined by 1,750 to 202,250, reaching a six-week low. Meanwhile, continuing claims for the week ending September 12 rose slightly by 2,000 to 1.719 million, remaining close to the lowest levels seen since 2023.

These figures indicate that despite rising energy prices triggered by Iran's geopolitical situation on February 28, U.S. employers are reluctant to lay off workers, having learned from labor shortages experienced during pandemic lockdowns.

Although corporate hiring has slowed and remains uneven, employers have added an average of 80,000 jobs per month so far this year. In August, an unexpected 162,000 jobs were created—significantly outperforming the monthly average of 9,700 jobs in 2025, which was hampered by high interest rates and trade policy uncertainty.

Spurred by this data, the U.S. dollar index rose to approximately 101.30, marking a two-month high.

The U.S. Department of Labor is scheduled to release the September employment report next week. Market surveys predict employers will add 52,500 new jobs, with the unemployment rate expected to remain at a low 4.1%.