WASHINGTON (AP) — The recent report from the Labor Department highlighted an increase in unemployment aid applications in the U.S. Despite this rise, layoffs remain relatively stable within the healthier range observed over recent years.
During the week ending July 25, the number of applications for jobless benefits climbed by 9,000, reaching a total of 197,000. The previous week’s count was adjusted upward by 1,000, now recorded at 188,000. Despite this correction, the figures continue to represent the lowest levels seen in over half a century.
Analysts from FactSet had predicted that there would be around 207,000 new applications for unemployment benefits. Weekly applications serve as a key indicator of layoff trends and offer near-real-time insights into the status of the U.S. job market.
The four-week moving average, which helps mitigate weekly fluctuations, saw a reduction of 5,000, bringing the total to 202,750.
In terms of overall filings, the total number of Americans requesting unemployment aid for the week ending July 18 was 1.78 million. This marks a decrease of 7,000 from the week prior.