US weekly jobless claims increase; layoffs fall in July

Source: Yahoo! News

“The number of Americans filing new claims for unemployment benefits increased last week, suggesting some softening in the labor market, though overall conditions remain tight. Initial claims for state unemployment benefits rose 6,000 to a seasonally adjusted 260,000 for the week ended July 30, the Labor Department said on Thursday. Economists polled by Reuters had forecast 259,000 applications for the latest week. … For now, layoffs remain very low. A separate report from global outplacement firm Challenger, Gray & Christmas on Thursday showed job cuts announced by U.S.-based companies dropped 20.6% to 25,810 in July.” (08/04/22)