💛 A quick favor, if you've got a second.
We're really happy that you chose to read one of our stories and sincerely hope you'll stick around to read more. We took our paywall down — for now — but that won't last forever, and when the gate goes back up, we'd love for you to already be on the inside.
It's free. So please enter your email here and don't forget to like and follow us on all of your favorite Social Media platforms!
Weekly applications for unemployment benefits plummeted to their lowest point in decades, with 187,000 new claims filed during the week ending July 18, according to data released Thursday by the Labor Department. The figure represents a decline of 22,000 claims from the prior week and significantly undercuts the 215,000 applications that analysts tracked by FactSet had anticipated.
Historically low layoff activity continues to characterize the American employment landscape even as businesses contend with uncertainty emanating from global economic conditions. Jobless filings serve as a reliable gauge of corporate workforce reductions and provide near-real-time insight into the overall strength of labor market conditions across the nation.
The four-week moving average, which smooths out weekly fluctuations, decreased by 7,250 to 207,500 claims. Meanwhile, the total count of Americans currently receiving unemployment benefits for the period ending July 11 dropped by 2,000 to just under 1.8 million, reflecting sustained strength in employment retention.
More Stories
Buc-ee’s Pay Scale Sparks Debate Over College-Free Six-Figure Careers
AOC Faces Backlash Over NDAA Claims as Republicans Dispute Military “Merger” Characterization
Federal Court Delays TPS Termination for Haitians Until Late July