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Data: U.S. Department of Labor ; Chart: Courtenay Brown/Axios New applications for unemployment benefits have stayed below 200,000 in a stretch rarely seen in modern history. Jobless claims fell by 2,000, to 197,000, last week, the Labor Department said Thursday morning. Why it matters: It points to a remarkable stability on the "firing" side of the labor market, even amid a slower pace of hiring on the other side of the equation. That is helping to keep unemployment low, but it also masks a growing divide between Americans who have jobs and those struggling to find one. What they're saying: "New jobless claims have been under 200,000 for a month now, an incredibly low level of layoffs for a sustained period of time that hasn't been seen since the 1960s," Navy Federal Credit Union chief economist Heather Long said. By the numbers: The four-week average, which smooths out weekly volatility, fell to 198,000, its lowest level since the red-hot job market of 2022–2023. The other side: Jobl
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The coverage relies on official data provided by the U.S. Department of Labor. The tone is descriptive and data-driven rather than speculative.
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