US jobless claims little changed last week as layoffs remain low

[NEW YORK] Applications for US unemployment benefits were little changed last week, signalling layoffs remain limited.

Initial claims decreased by 2,000 to 215,000 in the week ended July 4, a period that included the Independence Day holiday. The median forecast in a Bloomberg survey of economists called for 217,000 applications. 

Continuing claims, a proxy for the number of people receiving benefits, edged up to 1.81 million in the previous week, according to Labor Department Data released on Thursday (Jul 9).

The low level of claims suggests employers remain reticent to lay off workers. That said, the June jobs report showed a slowdown in hiring in the month, taking some of the shine off recent momentum in the labour market. It also showed many Americans left the labour force, a shift that could also be consistent with fewer filings for unemployment. BLOOMBERG