Applications for U.S. unemployment benefits rose slightly last week, although layoffs remain near historically low levels, indicating continued resilience in the labor market.
According to the report, the Labor Department said initial jobless claims increased by 1,000 to 199,000 for the week ending August 1, while the previous week's figure was revised upward to 198,000.
The report said weekly claims have generally remained within a range of 200,000 to 250,000 since the recovery from the pandemic recession.
Meanwhile, the four-week moving average, which helps smooth weekly fluctuations, declined by 4,500 to 198,750, suggesting overall labor market conditions remain relatively stable.
According to the report, approximately 1.8 million Americans continued receiving unemployment benefits during the week ending July 25.
The report said investors are also awaiting the government's monthly employment report, while Federal Reserve officials continue to monitor labor market conditions and inflation as they assess the outlook for future interest rate decisions.
Related Tweet:
July layoffs hit lowest level in two years despite AI fears: report https://t.co/KgRsAjkCO0 pic.twitter.com/Y8nBIOUmHA
— New York Post (@nypost) August 6, 2026
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