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US unemployment claims rise but remain at healthy level
ABC News - Breaking News, Latest News and Videos • • business
Key Points:
- U.S. jobless claims rose to 209,000 last week, slightly above expectations, but layoffs remain historically low, indicating strong job security for employed Americans.
- The four-week average of unemployment claims held steady at 199,000, while the total number of people collecting benefits decreased by 22,000 to 1.78 million.
- Despite a resilient labor market and a low unemployment rate of 4.1%, companies are hesitant to hire new workers, maintaining a "no hire, no fire" environment.
- Job cuts occurred last month with a net loss of 23,000 jobs, although employers are adding an average of 61,000 jobs per month this year, an improvement from last year's weak hiring pace.
- Hiring levels remain below pre-pandemic peaks, with current monthly job additions far lower than those seen during the 2021-2022 post-lockdown boom.
