U.S. jobless claims have stayed below 200,000 for three straight weeks, supporting signs that the labor market is showing a degree of stability.
The Labor Department said on the 6th (local time) that initial claims for unemployment benefits for last week (July 26–Aug. 1) totaled 199,000. That was up 1,000 from the previous week. It was below the 204,000 forecast compiled by Dow Jones.
Initial jobless claims are a weekly statistic compiled by the Labor Department. It is the earliest gauge of how many people lost jobs during the period, since people typically file for benefits when they become unemployed.
For the week of July 12–18, initial unemployment claims were 189,000, the lowest since 1969. Initial claims have remained below 200,000 for three consecutive weeks. Continuing claims, filed for two weeks or longer, were 1,801,000 for July 19–25, up 24,000 from the previous week.
The United States is currently in a "no hire, no fire" state, with hiring slowing and layoffs at historically low levels. Investors are watching the U.S. employment report due on the 7th.