Business & Finance
US weekly jobless claims rise slightly to 206,000 as low-layoff trend continues
Initial unemployment filings increased by 2,000, maintaining a low baseline while overall recruitment remains sluggish.
The short version
- Initial applications for US unemployment benefits rose to 206,000 last week, up from a revised 204,000 the previous week.
- Layoffs remain historically low, but employers have also curtailed recruitment, creating an environment with limited hiring and firing.
- The Labor Department will release the August comprehensive employment report on Friday.
Key facts
- The US Labor Department reported that initial jobless claims rose to 206,000 last week, while the four-week moving average increased to 207,250.[Associated Press · ABC News]
- Weekly claims have stayed largely between 200,000 and 230,000 over the past year, reflecting low levels of corporate layoffs.[Associated Press · ABC News]
- Gross hiring dropped by 5% to fewer than 5.1 million new jobs according to recent Labor Department data.[Associated Press · ABC News]
- Employers have added an average of 61,000 jobs per month so far this year, lower than the monthly average of 166,000 in 2023 and 2024.[Associated Press · ABC News]
- The national unemployment rate stood at 4.1% heading into the August data release.[Associated Press · ABC News]
What remains uncertain
- FactSet survey forecasts anticipate 65,000 jobs added in August and an unemployment rate increase to 4.2%, but official government numbers will not be confirmed until Friday's release.[Associated Press · ABC News]