US Initial Jobless Claims Drop by Most in Almost Four Years

Initial applications for jobless benefits in the US dropped by the most in nearly four years, reversing an unusually large jump in the prior week and consistent with low levels of layoffs in the economy.

Initial claims decreased by 33,000 to 231,000 in the week ended Sept. 13, according to Labor Department data released Thursday. That’s in line with levels seen throughout this year and not far off the pre-pandemic trend. The median forecast in a Bloomberg survey of economists called for 240,000 applications.