Initial Jobless Claims rose by 14,000 to 217,000 in the latest week. Continuing Claims fell by 18,000, with 1.859 million people still receiving benefits after filing their initial claim.
What’s the bottom line?
Unemployment claims fluctuate weekly, but the trend of low firings and low hirings persists. Initial Jobless Claims have been historically low recently, with Continuing Claims exceeding 1.8 million for 32 weeks straight. Employers are retaining workers while also slowing their hiring pace.