US Weekly Jobless Claims Drop to 57-Year Low

Key Facts

US weekly jobless claims slipped to a 57-year low as layoffs remained low. Reuters reported that the number of Americans filing new claims for unemployment benefits reached its lowest level in over five decades, indicating extreme tightness in the labor market as employers hold onto workers.

Data released on November 5, 2026, showed that initial jobless claims reached 189,000, coming in below the forecast of 196,000. The 4-week average for jobless claims also fell to 194.75 on November 5, 2026, down from the previous average of 197, reflecting continued resilience in the domestic workforce.

The market awaits the Nonfarm Payrolls report scheduled for release on November 6, 2026, with forecasts anticipating the addition of 65,000 jobs. The national unemployment rate for October is also due on the same day, with expectations set at 4.2%.