The latest figures show a slight increase in the number of Americans seeking unemployment benefits, although overall layoffs continue to be at low historical levels.
The Labor Department revealed on Thursday that the jobless claims applications increased by 3,000, reaching a total of 221,000 for the week ending November 2. This figure is still below the forecast of 227,000 that analysts had predicted.

Additionally, the four-week average of these claims, which helps to smooth out fluctuations from week to week, saw a decrease of 9,750, bringing it down to 227,250.
Weekly claims for unemployment insurance are typically seen as an indicator of layoffs occurring across the United States at a specific time.

In a related report, continuing claims—the ongoing number of individuals receiving unemployment benefits—also rose, with an increase of 39,000 to a total of 1.89 million for the week ending October 26. This marks the highest level of continuing claims since late 2021.
Overall, while the weekly jobless claims have seen a minor uptick, the labor market appears to remain relatively stable.