Weekly labor data comes in well below forecasts, reinforcing the picture of a resilient US job market.
US jobless claims declined last week, with seasonally adjusted initial claims falling 10,000 to 196,000, according to Labor Department data. The four-week moving average decreased to 203,250.
For the week ending Sept. 5, the insured unemployment rate fell to 1.1%, while the number of insured unemployed dropped 39,000 to 1.73 million.
Unadjusted initial claims under state programs declined 13.9% from the prior week to 152,286, compared with 195,433 in the comparable week of 2025. Total continued weeks claimed across all programs fell to 1.69 million for the week ending Aug. 29, down 63,781 from the previous week.
Bitcoin found support as the macro backdrop turned friendlier, while oil prices and Treasury yields both retreated. The largest digital asset edged higher to $76,900 as WTI crude fell below $100 for the first time in about a week.
The oil decline followed a Reuters report that China had urged Iranian leaders to help curb Yemen’s Houthis after a request from Saudi Arabia.
