Worker Filings for Jobless Claims Held Nearly Steady Last Week
U.S. labor market remains on solid footing as other parts of the economy slow
New applications for unemployment benefits inched down last week, a sign the labor market is holding up as the broader economy shows signs of slowing.
Initial jobless claims, a proxy for layoffs, declined slightly to a seasonally adjusted 250,000 last week from a downwardly revised 252,000 the week before, the Labor Department said Thursday. Claims totals have hovered around this level since hitting a high for the year in mid-July, and are above the 2019 prepandemic weekly average of 218,000.