US jobless claims stay below 200,000 for 3rd straight week
Business
Jobless claims in the US ticked up just a bit to 199,000 last week, but they've now stayed under 200,000 for three straight weeks, a level not regularly seen since way back in 1969, when the workforce was much smaller.
The four-week average of claims also hit its lowest point since September 2022, hinting at a pretty stable job market.
US continuing claims at 1.8 million
More people are still getting unemployment benefits (increased to 1.8 million), but that's actually lower than this time last year.
Economists are optimistic about July's upcoming jobs report and expect solid job growth, mainly because Americans are still spending and keeping the economy moving.
Overall, these trends suggest the labor market is holding strong even as things shift around it.