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Claims for unemployment benefits drop to 196,000, lowest since mid-July as layoffs remain low
The four-week average fell to 203,250, and economists said the low claims level suggests layoffs remain rare despite modest hiring.
- The Labor Department reported Thursday that jobless claims fell to 196,000, the fewest since mid-July and down from 206,000 the prior week, signaling that layoffs remain rare.
- Despite higher gasoline prices squeezing businesses and consumers since fighting with Iran began Feb. 28, The American job market has remained sturdy and resilient.
- Economists surveyed by FactSet expected 207,500 claims, while the four-week average dropped to 203,250, reinforcing that weekly claims have stayed within a historically low 200,000 to 230,000 range.
- Employers added an average 80,000 jobs monthly this year, including 162,000 in August, though growth remains below the 166,000 average in 2023 and 2024 when President Donald Trump's policies discouraged hiring.
- Businesses remain reluctant to release staff, recalling the labor shortages that followed COVID-19 lockdowns, explaining why hiring continues modestly despite economic pressures.
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(New York = Yonhap News) Correspondent Kim Yeon-sook = As the number of new unemployment claims in the U.S. shows an unexpected decline, it appears that the labor market is maintaining a stable trend...
·Seoul, Korea (the Republic of)
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Associated Press News+17 Reposted by 17 other sources
Claims for unemployment benefits drop to 196,000, lowest since mid-July as layoffs remain low
The number of people applying for unemployment benefits dropped sharply last week, another sign that layoffs remain rare and most Americans enjoy job security.
·New York, United States
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Coverage Details
Total News Sources44
Leaning Left11Leaning Right5Center11Last UpdatedBias Distribution41% Left, 41% Center
Bias Distribution
- 41% of the sources lean Left, 41% of the sources are Center
41% Center
L 41%
C 41%
R 18%
Factuality
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