US filings for unemployment aid fall to 187,000 last week, fewest since 1969
The Labor Department said claims fell well below forecasts, reinforcing signs that layoffs remain historically low despite slower hiring.
- Initial claims for state jobless benefits dropped by 22,000 to 187,000 for the week ended July 18, the Labor Department reported Thursday, marking the fewest weekly applications since September 1969.
- Hiring began slowing about two years ago and tapered further in 2025 due to President Donald Trump's tariffs, his purge of the federal workforce and high interest rates, with June adding only 57,000 jobs—less than half the previous month's total.
- Claims fell well below the 215,000 forecast by FactSet analysts and 212,000 projected by Reuters economists, while Thursday's four-week moving average of jobless claims declined by 7,250 to 207,500.
- Stable jobless data positions Federal Reserve officials to maintain their inflation focus, though the unemployment rate's June dip to 4.2% resulted mostly from workforce decline rather than hiring gains.
- Next week the Federal Reserve is expected to hold rates steady, though futures markets position for potential rate hikes before year's end, as major employers including Verizon, UPS, Amazon, Disney, Starbucks and Walmart continue recent workforce cuts.
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Initial unemployment benefit applications in the United States fell to 187,000 during the week ending July 18, a decrease of 22,000 compared to the previous week and the lowest number since September 1969, according to data from the Department of Labor published on Thursday. It is a minimum of almost 57 years. The number was far below what the market expected. The median of economists consulted by Bloomberg pointed to 210,000 applications, so th…
Hawaii Tribune-Herald
US weekly jobless claims plunge to lowest since 1969
The number of Americans seeking unemployment benefits for the first time unexpectedly fell last week to the lowest since the 1960s, indicating the U.S. job market continues on an even keel and leaving Federal Reserve officials to keep their focus on containing inflation. The post US weekly jobless claims plunge to lowest since 1969 appeared first on Hawaii Tribune-Herald.
PBS NewsHour
U.S. filings for unemployment aid fall to 187,000 last week, fewest since 1969
U.S. applications for jobless benefits tumbled to the lowest level in more than five decades last week as layoffs remain historically low despite global economic uncertainty.
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