The number of first-time claims for unemployment benefits dropped considerably last week, underscoring how employers are holding on tightly to workers as the labor market remains full of opportunities for job hunters.
Initial claims for unemployment insurance were 193,000 for the week ended September 24, down 16,000 from a downwardly revised total of 209,000 claims from the prior week, according to Labor Department data released Thursday.
Economists had forecast 215,000 weekly applications would be filed, according to estimates on Refinitiv.
The last time weekly claims fell below 200,000 was in early May 2022.
This story is developing and will be updated.
The-CNN-Wire
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