Prior week 197KInitial claims: 197,000 vs 200,000 expected. Prior revised to 199,000 from 197,000.Initial claims four-week average: 198,000, down 2,500. Prior revised to 200,500 from 200,000.Continuing claims: 1.716 million vs 1.708 million expected. Prior revised to 1.699 million from 1.701 million.Continuing claims four-week average: 1.711 million, down 12,250. Prior revised to 1.72325 million from 1.72375 million.Insured unemployment rate: 1.1%. Prior 1.1%.The US weekly claims report was mixed relative to expectations, with fewer new claims than forecast but continuing claims slightly higher than expected. Initial claims fell 2,000 to 197,000 for the week ending October 3, according to the US Department of Labor. The four-week average also declined, reinforcing the picture of limited layoffs. dol.govContinuing claims rose 17,000 to 1.716 million for the week ending September 26. That is the softer side of the report, suggesting some difficulty finding another job. However, the four-week average continued to move lower, tempering the signal from the weekly increase. dol.govQuick analysis: Layoffs remain low, but low layoffs do not necessarily mean strong hiring. The initial claims reading gives the Fed little evidence of an abrupt deterioration in employment. In isolation, that could support the dollar and Treasury yields, although the increase in continuing claims offsets some of that strength. The surprise is small and unlikely to change the policy outlook on its own.What this report measures: Initial jobless claims count new applications for unemployment insurance and provide a timely signal of layoffs. Continuing claims track ongoing benefit claims and can offer clues about how readily unemployed workers find jobs; they lag initial claims by one week. The headline figures are seasonally adjusted and subject to revision, while four-week averages smooth weekly volatility.Stocks remain lower with the Dow industrial average is down 400 points the NASDAQ 100 is down -241 points This article was written by Greg Michalowski at investinglive.com.