Jobless Claims Plunge to Near Six-Decade Low

Americans are filing for unemployment benefits at one of the lowest rates in decades, offering a fresh sign of resilience in the U.S. economy. New jobless claims fell to 194,000 for the week ending October 17th, down from 200,000 the previous week, and near levels last seen in the late 1960s. But there's a catch. While employers are reluctant to lay off workers, hiring remains sluggish, leaving job seekers with fewer new opportunities. The result is a low-hire, low-fire labor market that could complicate the Federal Reserve's next move on interest rates.