Challenger, Gray & Christmas, Inc.Private± Mixed
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US Initial Jobless Claims Fall to 197,000, Below Forecast of 200,000
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The US Labor Department reported on the 1st that initial jobless claims for the week ending September 26, on a seasonally adjusted basis, fell by 1,000 from the previous week to 197,000, below the 200,000 forecast by economists compiled by Reuters. Layoffs announced in September also declined, suggesting that while companies remain cautious about expanding hiring, the labor market is holding steady. Continuing claims for the week ending September 19, on a seasonally adjusted basis, fell by 11,000 to 1.701 million. According to outplacement firm Challenger, Gray & Christmas, planned job cuts announced by US companies in September fell 18% to 43,281, down 20% from a year earlier, and totaled 573,195 so far this year, a 39% decrease compared with the same period in 2025, while planned cuts in the third quarter fell 43%. Meanwhile, hiring plans for September surged to 90,787, up sharply from 12,325 in August, but the appetite for new hiring was down 23% from a year earlier, marking the lowest level for the month since 2011. Andy Challenger, chief revenue officer, noted that the usual surge in seasonal holiday hiring that begins in September has not materialized this year, saying, "Companies are now in a wait-and-see period."