US jobless claims: Unemployment benefit applications slip to 215,000 till 4 July week as layoffs remain historically low
WASHINGTON (AP) — The number of Americans filing for unemployment benefits dipped slightly last week as layoffs in the U.S. remain historically low. U.S. applications
WASHINGTON (AP) — The number of Americans filing for unemployment benefits dipped slightly last week as layoffs in the U.S. remain historically low. U.S. applications for jobless aid in the week ending July 4 ticked down by 2,000 to 215,000, the Labor Department reported Thursday. Analysts surveyed by the data firm FactSet forecast 220,000 new applications. Weekly filings for unemployment benefits are considered a proxy for layoffs and are close to a real-time indicator of the health of the U.S. job market. Also Read | Iran to bury slain Supreme Leader in culmination of mass funeral In its more comprehensive June jobs report last week, the government reported that employers pulled back on hiring June, adding only 57,000 jobs.
That’s less than half the previous month’s total and a sign that companies remain cautious. The unemployment rate dropped to 4.2% from 4.3% in May, though that decline is mostly because many out-of-work people gave up looking for jobs and were no longer counted as unemployed. June’s tepid hiring comes after a relative surge in job gains the previous three months, countering concerns that the war in Iran could trip up an already wobbly labor market. Also Read | Iran War LIVE: US completes another round of strikes against Iran Weekly jobless aid applications have stabilized in a range mostly between 200,000 and 250,000 since the U.S. economy emerged from the pandemic recession.
However, hiring began slowing about two years ago and tapered further in 2025 due to President Donald Trump’s tariffs, his purge of the federal workforce and the lingering effects of high interest rates meant to control inflation. Among the companies that have trimmed their workforce recently are Verizon, UPS, Amazon, Disney, Starbucks and Walmart. Also Read | Weather Today LIVE: Red alert in Uttarakhand for next 48 hours Earlier this week, Microsoft said it was cutting 4,800 jobs, about 2.1% of its global workforce, including a large number of workers at its Xbox video game business.
Thursday’s layoffs data showed that the four-week moving average of jobless claims, which softens some of the week-to-week swings, fell by 3,750 to 218,750.
The BriefWire