New applications for US unemployment benefits fell to 189,000 in the week ended 31 October 2026 — the lowest level since July — in a sign that layoffs remain low even as hiring has slowed.

The numbers

  • Initial jobless claims: 189,000, down 6,000 from a revised 195,000 the week before
  • The figure came in well below the 196,000 economists had expected
  • Insured unemployment rate: held at 1.1%, the share of covered workers receiving benefits
  • The four-week moving average of claims stood at about 197,800 for the week ended 24 October

What it means — and what it does not

Low jobless claims show that companies are not laying workers off in large numbers. But the claims figures do not measure hiring, and the claims week falls outside the survey period used for the monthly jobs report — so they do not predict Friday’s employment numbers.

All eyes on Friday’s jobs report

The Labor Department releases the October employment report on Friday, 6 November, at 8:30 AM ET. Forecasters expect employers to have added about 65,000 jobs in October, after just 29,000 in September, with the unemployment rate holding at 4.2%. Wage growth is expected at about 0.3% for the month.

The report matters for the Federal Reserve’s next move. The Fed held its benchmark rate at 3.75%–4.00% on 28 October, and markets are watching whether it raises rates again at its December meeting.

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