1 week ago
US Jobless Claims Fall as Layoffs Remain Historically Low
Fewer Americans applied for unemployment benefits last week.
The number fell to 206,000.
This suggests that relatively few workers are being laid off.
However, companies may still be hiring more slowly than before.
The average number of new claims over four weeks rose slightly to 204,000.
The number of people continuing to receive benefits increased to 1.799 million.
The unemployment rate also edged down to 4.1%.
If these conditions continue, the Federal Reserve may decide not to change interest rates in September.
Initial US unemployment claims fell by 6,000 to 206,000 in the week ended August 15.
Claims remain within the lower portion of their 189,000-to-230,000 range for the year.
The four-week average of initial claims rose to 204,000.
Continuing claims increased by 18,000 to 1.799 million in the week ended August 8.
The unemployment rate edged down to 4.1%, potentially allowing the Federal Reserve to keep rates unchanged in September.
- Who
- Americans filing for and receiving unemployment benefits, along with the US Labor Department and Federal Reserve.
- What
- New unemployment claims fell to 206,000, while continuing claims rose to 1.799 million.
- Where
- The United States.
- When
- The data was released on August 20; initial claims covered the week ended August 15, and continuing claims covered the week ended August 8.
- Why
- The figures indicate that layoffs remain low, although hiring has been softer.
Key facts
- Initial claims
- 206,000 in the week ended August 15
- Weekly change
- Initial claims decreased by 6,000
- Four-week average
- 204,000
- Continuing claims
- 1.799 million in the week ended August 8
- Unemployment rate
- 4.1% last month
- Annual claims range
- 189,000 to 230,000
- Potential policy effect
- The data could allow the Federal Reserve to leave interest rates unchanged in September if conditions persist
Sources
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