Claims for unemployment benefits drop to 197,000, the lowest since mid-July as layoffs remain rare
Summary
Fewer people in the U.S. applied for unemployment benefits last week, with claims dropping to 197,000, the lowest level since mid-July. This shows that job losses remain rare and the U.S. job market is stable, despite some economic pressures like higher energy prices.Key Facts
- 197,000 people applied for unemployment benefits last week, down from 198,000 the previous week.
- The four-week average of claims fell to 202,250, indicating steady low layoffs.
- Jobless claims have mostly stayed below 220,000 so far this year, which is historically low.
- Businesses are hiring modestly but are cautious about layoffs due to past labor shortages.
- Employers have added an average of 80,000 jobs per month this year, with 162,000 jobs added in August.
- In 2025, monthly job creation was very low, averaging 9,700 jobs per month.
- The upcoming September jobs report is expected to show 52,500 new jobs and a stable unemployment rate of 4.1%.
- Hiring is still lower than the averages for 2023-2024 and much lower than the post-pandemic boom in 2021-2022.
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