The number of Americans filing new claims for unemployment benefits likely declined last week, according to estimates from JPMorgan and Goldman Sachs, signaling continued labor market resilience even as hiring momentum remains subdued.

Economists at the two banks estimated that initial claims for state unemployment benefits fell to a seasonally adjusted 217,000 for the week ending October 11, down from 235,000 the previous week.

The drop suggests that layoffs remain relatively low, reflecting a still-stable job market despite signs of cooling demand. However, analysts cautioned that sluggish hiring across key sectors has left many workers stuck on unemployment rolls, underscoring an uneven recovery in the broader labor market.