US EditionUS applications for jobless benefits up modestly but remain at a healthy level
UNITED STATES OF AMERICA, AUG 7 – Initial jobless claims rose modestly to 226,000, slightly above forecasts, while employment revisions cut 260,000 jobs from previous months, signaling a slowing U.S. labor market.
- The Labor Department reported that initial jobless claims rose by 7,000 to 226,000 for the week ending August 2, marking a modest increase in unemployment filings.
- This rise followed a grim July jobs report showing only 73,000 jobs added, well below expectations, along with revised downward employment figures and a slight uptick in the unemployment rate to 4.2%.
- Although initial claims rose, the four-week average decreased slightly to 220,750. Meanwhile, the count of individuals receiving unemployment benefits climbed to 1.97 million—the highest figure since November 2021—reflecting signs of a weakening labor market and employer caution.
- Economists condemned President Trump’s dismissal of the head of the government agency responsible for labor data, maintaining that employment statistics remain trustworthy despite worries that ongoing tariff disputes could hinder job creation and wage increases.
- The data suggest ongoing economic uncertainty with slower job growth and moderate layoffs, while the Federal Reserve may consider lowering interest rates if inflation remains below its 2% target and unemployment stays elevated.
65 Articles
65 Articles
The number of Americans filing for unemployment benefits rose modestly last week, a sign that employers are still retaining workers despite economic uncertainty related to U.S. trade policy.
Unemployment Claims Tick Up as Labor Market Shows Signs of Strain
The number of Americans filing for jobless benefits rose modestly last week, a sign that employers still retaining workers despite economic uncertainty related to U.S. trade policy. Jobless claims for the week ending Aug. 2 rose by 7,000 to 226,000, the Labor Department reported Thursday, slightly more than the 219,000 new applications that economists had forecast. The report is the first government labor market data release since Friday’s grim …
US jobless claims tick up in latest week; productivity improves in second quarter
By Dan Burns (Reuters) -The number of Americans filing new applications for unemployment benefits ticked higher last week, suggesting the labor market was largely stable even though job creation is weakening and it is taking laid-off workers longer to find new jobs. Initial claims for state unemployment benefits rose 7,000 to a seasonally adjusted 226,000 for the week ended August 2, the Labor Department said on Thursday. Economists polled by Re…
Associated Press News
US applications for jobless benefits up modestly but remain at a healthy level
The number of Americans filing for jobless benefits rose modestly last week, a sign that employers still retaining workers despite economic uncertainty related to U.S. trade policy.
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