Jobless Claims Remain Low While Hiring Slows, Says Heather Long

U.S. jobless claims remained near their lowest levels in 57 years for a fourth consecutive week, according to the Labor Department. Initial claims for state unemployment benefits slipped to 197,000 for the week ended October 3. Heather Long, chief economist at Navy Federal Credit Union, commented that this reflects a 'low-hire, low-fire' job market, though she noted it is difficult for job seekers.

The report shows that while employers are maintaining staffing levels amid strong profits, they have been hesitant to increase headcount. Economists attribute this trend to uncertainty caused by tariffs and the U.S.-Israeli war with Iran, which has pushed commodity prices higher.

Labor market shifts are underway in America.