US weekly unemployment claims fall to 208,000, fewest in 10 weeks
Layoffs stayed historically low as the four-week average also eased, while economists said hiring remains cautious amid high interest rates and tariffs.
- On Thursday, the Labor Department reported that initial claims for state unemployment benefits dropped 8,000 to 208,000 for the week ended July 11, pointing to continued labor market stability.
- Hiring began slowing about two years ago, tapered further by President Donald Trump's tariffs, his purge of the federal workforce, and high interest rates meant to control inflation.
- The Federal Reserve's Beige Book said "employment rose on balance" in early July, with five districts showing gains and seven experiencing little to no change.
- Among companies trimming workforces recently are Verizon, UPS, Amazon, Disney, Starbucks, and Walmart, while Americans receiving unemployment benefits fell to 1.805 million.
- Economists describe the current environment as a "slow hire, slow fire" labor market, with filings at their lowest level in 10 weeks despite concerns regarding the war in Iran.
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For the second week of July, only 8,000 applications for unemployment benefit were registered.
Minimal Layoffs Send US Unemployment Claims to 10-Week Low
A low number of layoffs is keeping the U.S. labor market steady this summer, the government reported on July 16. Initial jobless claims—the number of Americans filing applications for unemployment benefits—declined by 8,000 to 208,000 for the week ending July 11, according to new Department of Labor data. This came in firmly below economists’ expectations of 217,000. The reading was the lowest since the first week of May, when claims dropped to …
Pittsburgh Post-Gazette
U.S. weekly unemployment claims fall to 208,000, fewest in 10 weeks
WASHINGTON — Filings for unemployment benefits fell last week to the lowest level in 10 weeks as U.S. layoffs remain historically low. The number...
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U.S. Jobless Claims Fall to 10-Week Low as Labor Market Continues to Show Resilience
New applications for unemployment benefits in the United States declined last week to their lowest level in 10 weeks, signaling that layoffs remain relatively limited ... The post U.S. Jobless Claims Fall to 10-Week Low as Labor Market Continues to Show Resilience first appeared on [your]NEWS.
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