Prior was 197K (revised to 199K)Continuing claims 1716K vs 1708K expPrior was 1701K (revised to 1699K)These numbers remain near ultra-low multi-generational lows. They're one of the best signs out there that the US jobs market is solid and that the Fed has room to hike rates.For background, US initial jobless claims provide one of the timeliest readings on the labour market, tracking new applications for unemployment insurance. Published by the Labor Department, usually on Thursdays at 8:30 a.m. Eastern, the report offers a weekly check on layoffs between monthly employment releases.The headline figure is seasonally adjusted. Lower claims generally suggest employers are holding onto workers, while a sustained increase can signal weakening conditions. For markets, the surprise relative to forecasts matters: an unexpectedly strong reading can support Treasury yields and the dollar, while rising claims can bolster expectations for easier Federal Reserve policy.Individual weeks can be noisy. Holidays, severe weather, temporary factory shutdowns and difficulties adjusting for seasonal patterns can produce misleading swings. Traders therefore watch the four-week moving average and revisions to previous readings for a clearer indication of the underlying trend.The report also includes continuing claims, covering people claiming benefits after their initial application. These figures lag initial claims by one week and help assess how readily unemployed workers are finding new jobs. Low initial claims alongside elevated continuing claims can indicate a labour market where employers are reluctant to fire but also reluctant to hire.An important limitation is that claims do not capture everyone without work. People who are ineligible for benefits, have exhausted their entitlement or never apply are excluded. Falling continuing claims therefore do not necessarily mean stronger hiring. The strongest signal comes when claims trends align with payroll growth, unemployment and other measures of labour demand. This article was written by Adam Button at investinglive.com.