US unemployment claims hit 10-week low, hiring slows in June
Business
Unemployment claims in the US just hit their lowest point in 10 weeks: only 208,000 people filed last week, which is well below what analysts expected.
While that sounds like good news for job security, hiring has actually slowed down a lot: just 57,000 new jobs were added in June, less than one-half of May's number.
Microsoft, Verizon, Amazon announce cuts
Even with fewer layoffs overall, big names like Microsoft, Verizon, and Amazon are announcing cuts (Microsoft alone is letting go of 4,800 employees).
Still, continued unemployment claims dropped to 1.81 million and the four-week average is also down.
So despite some uncertainty and cautious hiring from companies, the job market remains pretty strong for now.