US filings for jobless benefits rise to 197,000 last week, but layoffs remain historically low
The four-week average fell to 202,750, and analysts said claims remain a near real-time gauge of layoffs.
- On Thursday, the Labor Department reported initial jobless claims rose to 197,000 for the week ending July 25, an increase of 9,000 from the previous week's revised level.
- Since the American economy emerged from the pandemic recession, weekly jobless aid applications have stabilized in a range mostly between 200,000 and 250,000, keeping layoffs near historic lows.
- The four-week moving average for initial claims fell to 202,750, a decrease of 5,000 from the prior week's revised average of 207,750, smoothing out weekly volatility.
- Amazon, Disney, Microsoft, Starbucks, UPS, Verizon, and Walmart have recently trimmed their workforce, though the broader American job market remains healthy despite these sectoral adjustments.
- Broader economic data released Thursday showed the economy grew at a sluggish 1.5% pace in the April-June quarter, while the Federal Reserve's preferred inflation metric, PCE, hit 3.7%.
25 Articles
25 Articles
The U.S. labor market continued its stable trend as new jobless claims fell short of market expectations. The U.S. Department of Labor announced on the 30th (local time) that the number of new jobless claims for the past week totaled 197,000. While this was an increase of 9,000 from the previous week, it fell short of the expert forecast of 200,000 compiled by Dow Jones. The number of claims from the previous week rose from 187,000 to 188,000.
(New York = Yonhap News) Correspondent Kim Yeon-sook = New jobless claims in the U.S. fell short of market expectations, indicating that the U.S. labor market is maintaining a stable trend...
The initial applications for unemployment insurance in the United States totaled 197 thousand in the week closed on July 25, according to data released this Thursday by the country's Department of Labour. The result shows an increase of 9,000 requests compared to the previous week, when a total of 188,000 requests were calculated. The consensus of a group of analysts projected the total of 200,000 requests in the week. The four-week moving avera…
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