US jobless claims rise to 209,000 as average stays unchanged
Business
Jobless claims in the US went up a bit last week: 209,000 people filed for unemployment, which is just above what experts predicted.
Still, the average number of claims hasn't changed, showing that the job market is holding steady overall.
July layoffs at historic low 23,000
Even with more people filing for unemployment, layoffs are at historic lows: only 23,000 jobs were cut in July.
New hiring isn't as fast as it was during the post-pandemic boom; companies are playing it safe because of high interest rates and trade uncertainties.
Continued claims fall to 1.78 million
Claims for ongoing unemployment benefits actually dropped by 22,000 to 1.78 million.
That means most folks who already have jobs seem secure, even if companies aren't rushing to hire new faces right now.