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Unemployment Claims Tick up to 206,000 but Remain at Historically Low Levels
Planned job cuts rose 58% in August, but claims stayed near historic lows as employers remain reluctant to add workers.
- Initial jobless claims climbed 2,000 to a seasonally adjusted 206,000 for the week ended August 29, the Labor Department reported on Thursday.
- Claims remain within a historically low 189,000 to 230,000 range for the year, consistent with what economists describe as a "slow hire, slow fire" labor market anchored by low layoffs.
- The Federal Reserve's Beige Book report on Wednesday noted employment rose "very slightly" in August, as companies remain reluctant to expand headcounts after previous worker shortages.
- Forecasters expect the government to report on Friday that nonfarm payrolls rebounded by 56,000 jobs, while data firm FactSet anticipates the unemployment rate may tick up to 4.2%.
- Fed Chairman Kevin Warsh said policymakers "have work to do" to reach the 2% inflation target, as high interest rates and trade policies continue to discourage companies from hiring.
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Jobless Claims and Layoff Announcements Edge Higher as Markets Await August Employment Report
Initial unemployment claims rose modestly to 206,000 and announced layoffs increased 58% in August, while employers simultaneously outlined more hiring plans as investors awaited Friday’s ... The post Jobless Claims and Layoff Announcements Edge Higher as Markets Await August Employment Report first appeared on [your]NEWS.
US unemployment claims tick up to 206,000 but remain at historically low levels
US jobless claims edged up last week, but remained at historically low levels, underscoring a resilient labour market. However, weak hiring points to a “no-hire, no-fire” environment, making it harder for jobseekers to find work.
US weekly jobless claims rise marginally amid stable labor market
·London, United Kingdom
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Total News Sources62
Leaning Left12Leaning Right11Center15Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 32%
C 39%
R 29%
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