US initial jobless claims edged down to their lowest level since July, while
continuing claims fell 11,000 to 1.70 mln, the lowest since March 2023,
indicating a still-healthy labor market. The four-week moving average of initial
claims dropped to 200k, a seven-week low. Unadjusted initial claims fell in most
states, including Hawaii, Georgia and Texas. Attention turns to Friday’s nonfarm
payrolls, where September unemployment is forecast to remain at 4.1%.
