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.
58 Articles
58 Articles
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
US weekly jobless claims rise marginally amid stable labour market
The number of Americans filing claims for unemployment benefits increased marginally last week, suggesting no material shift in labour market conditions at the end of August. Read more at The Business Times.
The initial applications for unemployment insurance in the United States totalled 206 thousand in the week closed on 29 August, according to data released on Thursday (3) by the country's Department of Labour. The result was practically in line with the expectation of a group of analysts, who projected 205 thousand new applications. The four-week moving average of the indicator stood at 207,250 requests, which represents an increase of 1.5 thous…
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