New applications for U.S. unemployment benefits rose slightly but remained low, extending a steady labor market trend.
The U.S. Labor Department said on May 7 local time that initial jobless claims for the week of Apr. 26 to May 2 rose by 100,000 from the previous week to 200,000. That was below the market forecast of 206,000.
By contrast, continuing claims, filed by those seeking benefits for two weeks or more, fell by 10,000 to 1,766,000 from the previous week. That was the lowest level in about two years since April 2024.
Despite the slight uptick in new claims, the overall figures remained low, prompting assessments that the U.S. job market continues to show resilience.
With caution persisting over a potential hiring slowdown, markets expect April employment data due on the 8th to offer clues on the labor market's direction.