US initial jobless claims fell 4,000 to 203,000 in the week ended Aug. 22, seasonally adjusted, versus 208,000 expected, the US Department of Labor said Thursday. Claims remain in a low 189k–230k range this year, suggesting layoffs are limited despite softer hiring. Continuing claims fell 18,000 to 1.778 million, a reference point for hiring. The unemployment rate slipped to 4.1% last month; if the labor market stays stable, the Fed could continue to prioritize bringing inflation down — US infla

US initial jobless claims fell 4,000 to 203,000 in the week ended Aug. 22, seasonally adjusted, versus 208,000 expected, the US Department of Labor said Thursday. Claims remain in a low 189k–230k range this year, suggesting layoffs are limited despite softer hiring. Continuing claims fell 18,000 to 1.778 million, a reference point for hiring. The unemployment rate slipped to 4.1% last month; if the labor market stays stable, the Fed could continue to prioritize bringing inflation down — US inflation has exceeded the Fed’s 2% target for 65 months.