Jobless claims ticked up last week, but remain within a historically healthy range, according to Labor Department data released Thursday. For the week ending August 30, applications for unemployment benefits rose by 8,000 to 237,000, slightly above forecasts. Claims have largely hovered between 200,000 and 250,000 since the pandemic recovery began.
While layoffs remain low, hiring has slowed sharply. The unemployment rate stands at 4.2%, but July’s jobs report showed only 73,000 gains, with steep downward revisions to earlier months.
Employers advertised 7.2 million openings in July, short of expectations. Growth has cooled to 1.3% in the first half of 2025, weighed down by uncertainty over tariff policies.
U.S. labour market shows signs of softening as jobless claims rise https://t.co/VtZgqiMk2x
— The Globe and Mail (@globeandmail) September 4, 2025
Markets are watching closely as the Federal Reserve considers cutting rates at its September 16–17 meeting to spur lending. Friday’s August jobs report is expected to show just 80,000 new hires, underscoring the fragility of the labor market.
