US Jobless Claims Drop to 194,000, Nearing 1960s Low

• Initial filings for unemployment insurance dropped to a seasonally adjusted 194,000 last week.
• This is the lowest number of jobless claims since July and the fewest in three months.
• The drop in claims suggests that layoffs remain low and job security is strong for most Americans.
• Economists had forecast 200,000 new claims, but the actual number was 6,000 lower.
• Continuing claims rose to a six-week high of 1.73 million in the previous week.