US initial jobless claims fall to lowest since 1969

The US Labor Department said on Thursday, July 23, 2026, that initial claims for unemployment benefits fell by 22,000 to 187,000 in the week ended July 18, the largest drop in three months and the lowest level since September 1969.

Economists polled by Reuters had forecast claims would rise to 212,000. The four-week moving average also fell by 7,250 to 207,500.

The data point to continued strength in the US labor market, allowing the Federal Reserve to keep its focus on containing inflation, a factor that shapes the dollar and global rate expectations ahead of the Fed's July 29 meeting.