US jobless aid filings fall to 202,000 as layoffs remain low despite uncertainty of Iran war

Initial applications for U.S. unemployment benefits fell last week, a sign that layoffs remain historically low even as economists watch for economic effects from the Iran war.

The Labor Department said Thursday that jobless aid filings dropped by 9,000 to 202,000 for the week ending March 28. The reading was reported the same day by Reuters and later confirmed by AP.

The report points to a labor market that is still resilient, though not especially fast-growing. Continuing claims, a separate measure of the number of people receiving benefits, rose to 1.841 million for the week ending March 21.

For now, employers appear to be holding onto workers. But the broader outlook has become less certain as the Middle East conflict raises the risk of higher energy prices and softer business sentiment.

That uncertainty has not yet shown up in a significant rise in weekly layoffs. The latest claims data suggests the U.S. job market remains in a low-layoff, low-hire environment as the spring begins.