Image courtesy Canva

Initial unemployment claims declined in the latest report from the U.S. Department of Labor, signaling continued stability in the labor market.

For the week ending September 20, seasonally adjusted initial claims fell to 218,000, a decrease of 14,000 from the previous week. The four-week moving average, a measure that smooths out weekly fluctuations, also dropped to 237,500.

The insured unemployment rate (the share of people currently receiving benefits) held steady at 1.3% for the week ending September 13. Meanwhile, the total number of individuals receiving unemployment benefits slipped slightly to 1.93 million.

On an unadjusted basis, new claims totaled 180,611, down nearly 15,000 from the prior week. Continued claims across all programs also fell, with 1.79 million people collecting benefits for the week ending September 6, a decline of more than 44,000.

The report suggests that despite economic pressures, layoffs remain relatively low, and most workers are able to stay employed or quickly find new jobs.