Jobless Claims Drop Below 200,000
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States reported that 193,000 workers filed for new unemployment benefits during the week ending Sept. 24, continuing several weeks of declines and defying experts who had predicted an increase in the number of new claims filed. The generally low level of jobless claims overall signifies strong labor demand as companies try to attract and retain employees.
The unemployment rate in August rose to 3.7 percent from a 50-year low in July, but the increase included a surge in the number of people actively looking for work, a sign of a healthy labor market. The number of workers claiming unemployment benefits for more than a few weeks—1.35 million—is below the pre-pandemic average of 1.7 million.
Fewer jobless claims may help steady the up-and-down financial markets. For the latest news and analysis on how economic conditions are impacting HR, see SHRM’s Featured Resource Page on Working Through an Unstable Economy.
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
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