Weekly U.S. jobless claims fell to 215,000 in the week ending June 20, beating expectations and suggesting layoffs remain subdued even as economic uncertainty persists.
U.S. applications for unemployment benefits fell last week, a sign that layoffs remain low even as businesses face broader economic headwinds.
The Labor Department said Thursday, June 25, that initial claims dropped by 12,000 to 215,000 in the week ending June 20. That was below the 225,000 forecast from analysts surveyed by FactSet.
The latest reading adds to evidence that employers are still limiting layoffs, even as the economy faces uncertainty.
Claims remain subdued
The four-week moving average, which smooths out week-to-week volatility, rose by 750 to 224,250.
Continuing claims increased by 21,000 to 1.82 million in the week ending June 13, showing that more people remained on benefits even as new filings eased.
Weekly claims are one of the most closely watched snapshots of the labor market because they offer a near-real-time reading on layoffs.
Economic backdrop
The report comes amid broader concerns about slowing growth and other economic headwinds, but the claims data suggests employers are still holding the line on job cuts for now.
Markets also took notice of the report. MarketWatch said U.S. stock futures rose after the claims data and other economic releases.
The next weekly claims report will show whether the latest decline was a one-week move or part of a steadier trend.
Revision note
Initial automated publication.