Weekly Initial Jobless Claims, Continuing Applications Fall

03:17 PM EDT, 09/17/2026 (MT Newswires) -- Weekly applications for unemployment insurance and continuing claims in the US dropped, according to latest official data, which Oxford Economics said reflect a largely balanced labor market. For the week through Sept. 12, the seasonally adjusted number of initial claims fell by 10,000 to 196,000 from the previous week's unrevised average, the Department of Labor said Thursday. The consensus was for a 207,000 print in a Bloomberg poll. The four-week moving average and unadjusted claims also moved lower. Seasonally adjusted continuing claims came in at 1.73 million for the week ended Sept. 5, versus Wall Street's views for a 1.78 million print. Continuing claims decreased by 39,000 from the previous week's downwardly revised level, according to government data. "Jobless claims data continue to be consistent with a low pace of layoffs and a labor market that has struck a balance between a low rate of hiring and little growth in the labor force," Grace Zwemmer, US economist at Oxford Economics, said in remarks e-mailed to MT Newswires. On Wednesday, the Federal Reserve raised its benchmark lending rate by 25 basis points, marking its first hike in just over three years as it seeks to bring inflation down to its 2% target. Employment gains have kept pace with the workforce, while the jobless rate remains little changed, the Federal Open Market Committee said in a statement. Policymakers downgraded their annual unemployment rate expectations through 2028, the FOMC's updated Summary of Economic Projections showed at the time. In his press conference following the FOMC's decision, Fed Chair Kevin Warsh painted a largely positive picture of the US labor market. The jobless rate continues to be low at roughly 4.1%, while job openings and weekly hours have been rising, Warsh said Wednesday. "Unemployment claims, on a four-week moving average, are running at levels consistent with full employment," he added. "So, the labor side of the Fed's congressional remit is in good shape." Earlier this month, official data showed the US economy added almost triple the jobs expected by the Street in August. "Stable, low levels of jobless claims are consistent with a balanced labor market, allowing the (Fed) to remain focused on the inflation side of its dual mandate," Zwemmer said Thursday, adding that Oxford expects an interest rate increase in December.