Recent data indicates some cooling of the job market, but the real number of people laid off may be higher.
Unemployment claims fell last week. Despite relatively high interest rates, they’re below pre-pandemic levels and near historic lows.
That’s even while the economy and job market appear to be rebounding.
It’s the lowest level since the pandemic struck last year.
The Labor Department said Thursday that jobless claims declined just 7,000 from the previous week to 411,000.
The number of people applying for unemployment benefits rose last week for the first time since April.
Jobless claims fell by 9,000 to 376,000 from 385,000 the week before, the Labor Department reported Thursday.
The Labor Department said Thursday that jobless claims dropped to 385,000, down 20,000 from the week before.
The number of weekly jobless claims — a rough measure of the pace of layoffs — has fallen by more than half since January.
The number of Americans seeking unemployment benefits fell last week to 473,000.
