U.S. jobless claims drop to 197,000, a 57-year low

U.S. initial jobless claims fell by 1,000 to 197,000, Reuters reported Oct. 1, putting layoffs at a 57-year low and below 200,000 for four straight weeks. Continuing claims dropped to 1.701 million, lowest since April 2023. I see income support here, not hiring strength. Soft hiring leaves little cushion if layoffs normalize.