US jobless claims rise to 209,000 last week, up from revised 200,000; layoffs remain at historically healthy levels

The Labor Department reported that jobless claims rose to 209,000 last week, an increase from a revised 200,000 the previous week, exceeding forecasts of 205,000. The four-week average remained steady at 199,000, indicating stability in the labor market.¹²

Despite the uptick in claims, layoffs are at historically low levels, suggesting that job security remains strong for American workers. Claims have fluctuated between 200,000 and 230,000 weekly over the past year, reflecting a resilient economy amidst challenges such as rising energy prices due to geopolitical tensions.

Carl Weinberg, chief economist at High Frequency Economics, noted, "The labor market has yet to show any sign of wear and tear from the surge in oil prices since the start of the global energy supply shock."

Employers are currently adding an average of 61,000 jobs per month this year, a significant improvement from the 9,700 average last year, which was the weakest hiring outside a recession since 2002. However, this remains below the 166,000 monthly jobs created on average in 2023 and 2024, and far from the 491,000 monthly jobs recorded during the post-pandemic hiring boom.⁶

The U.S. unemployment rate stands at 4.1%, reflecting the economy's resilience despite external pressures.⁵