Jobless claims dip to 203,000 as hiring remains sluggish

Weekly unemployment claims fell to 203,000, a historically low level as layoffs stay rare; the job market remains resilient with an unemployment rate around 4.1%, but hiring is muted, averaging about 61,000 new jobs per month this year. More than 1.3 million people have left the labor force over the past year, and August payrolls are expected to show about 65,000 new jobs.