U.S. initial jobless claims fell by 1,000 to a seasonally adjusted 194,000 in the week ended October 24, below the 199,000 forecast from economists polled by Reuters. Claims have remained mostly below 200,000 since mid-September and are near the 189,000 level reached in mid-July, the lowest since 1969. Continuing claims dropped by 21,000 to 1.701 million in the week ended October 17, covering the period used to survey households for October's unemployment rate. Economists described the labor market as a low-hire, low-fire environment, with resilient domestic demand and strong corporate profits limiting layoffs while the ongoing US-Israeli war with Iran discouraged hiring. The unemployment rate was 4.2% in September, and consumer sentiment about labor-market conditions improved in October. A reduction in the labor force linked to the Trump administration's immigration crackdown was also cited as a factor keeping the rate low. The Federal Reserve kept its benchmark interest rate at 3.75%-4.00% and said inflation remained elevated. Fed Chairman Kevin Warsh said employment conditions were quite positive, while economists expect a December rate increase.