U.S. New Unemployment Claims at 199,000... Layoffs Remain at Low Level

The number of new unemployment claims in the United States remained below 200,000 for three consecutive weeks, indicating that layoffs by companies continue to be at a low level. However, the number of continued unemployment claims has increased.

A worker is stocking products at a supermarket located in New York. New York, USA – Photo by Yoonju Hwang

According to the U.S. Department of Labor, the number of new unemployment claims for the week of July 26 to August 1 was 199,000, an increase of 1,000 from the previous week, as announced on August 6 (local time). This figure is lower than the expert estimate of 204,000 compiled by Dow Jones.

The number of weekly new unemployment claims was recorded at 189,000 during the week of July 12 to 18, marking the lowest level since 1969 and remaining below 200,000 for three consecutive weeks.

The number of continued unemployment claims, which represents those applying for benefits for more than two weeks, was 1,801,000 for the week of July 19 to 25, an increase of 24,000 from the previous week.

Combining this unemployment benefit indicator with recent employment data, it can be interpreted that the U.S. labor market is maintaining a trend of both low layoffs and low new hiring, with companies keeping layoffs at a low level while new employment slows down.

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