Fewer Americans apply for unemployment benefits last week

A slightly smaller number of Americans applied for unemployment benefits last week, while the labor market continues to stand out as one of the strongest segments of the economy.

Jobless claims for the week ending Aug. 13 fell by 2,000 to 250,000, the Labor Department reported Thursday. Last week’s number, which caused a surprise, was revised down by 10,000.

The four-week average for claims, which offsets some of the week-to-week volatility, fell by 2,750 to 246,750.

The number of Americans collecting traditional unemployment benefits rose by 7,000 in the week ending Aug. 6, to 1.43 million. That is the most since early April.

Jobless claims typically reflect layoffs and are often considered an early indicator of where the job market is headed.

US hiring in 2022 has been remarkably resilient in the face of rising interest rates and weak economic growth.

The Labor Department reported earlier this month that US employers added 528,000 jobs in July, more than double what forecasters expected. The unemployment rate fell to 3.5%, matching a 50-year low reached just before the coronavirus pandemic hit the US economy in early 2020.

The United States rebounded with unexpected force from the 2020 COVID-19 recession, leaving businesses scrambling to find enough workers.

[Con información de The Associated Press]

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