US Jobless Claims Fall to 189,000 as Q3 Productivity Jumps 3.6%
Updated
Updated · Reuters · Nov 5
US Jobless Claims Fall to 189,000 as Q3 Productivity Jumps 3.6%
3 articles · Updated · Reuters · Nov 5
Summary
189,000 Americans filed new unemployment claims in the week ended Oct. 31, down 6,000 and matching the lowest level since 1969, underscoring still-low layoffs.
3.6% annualized productivity growth in the third quarter, up from 2.1% in Q2, pushed unit labor costs down 0.7% for the first quarterly decline since mid-2025.
1.718 million continuing claims rose by 23,000, signaling some unemployed workers are taking longer to find jobs as employers favor seasonal hiring over permanent headcount.
1.06 job openings per unemployed person in September and claims mostly below 200,000 since mid-September point to a labor market that remains resilient even as Middle East war uncertainty restrains hiring.
3.75%-4.00% is the Fed's current rate range, and the combination of subdued labor-cost pressure with elevated inflation leaves policymakers room to focus on price risks ahead of an expected December hike.