The number of people in the United States applying for unemployment benefits decreased last week, although they are still slightly higher than usual, which is not a major concern. According to the Labor Department’s report on Thursday, jobless claims dropped by 17,000 to 233,000 for the week ending on August 3, which was lower than the 240,000 predicted by analysts surveyed by FactSet. Weekly unemployment claims are viewed as an indicator of layoffs, and while they have been increasing recently, they are still at levels considered healthy historically.
Meanwhile, continuing claims, which indicate the total number of individuals receiving unemployment benefits, rose by 6,000 to 1.88 million for the week ending on July 27. This is the highest level since the week of November 27, 2021. Additionally, the four-week average of claims, which smooths out some of the weekly fluctuations, increased by 2,500 to 240,750.
