Washington: More file for jobless aid; layoffs remain low despite economic uncertainty over tariffs
Press Trust of India | May 29, 2025 | 09:26 PM IST | 1 min read
Washington: The jobless benefits applications rose to 240,000 from 14,000 for the week ending May 24, the labour department said. Also, the analysts had forecast 226,000 new applications.
WASHINGTON: Filings for US jobless aid jumped last week but American workers broadly remain secure in their jobs despite economic uncertainty over global trade. Jobless benefits applications rose by 14,000 to 240,000 for the week ending May 24, the Labour Department said Thursday. Analysts had forecast 226,000 new applications.
Weekly applications for jobless benefits are seen as representative of US layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy in the spring of 2020, wiping out millions of jobs.
The four-week average of claims, which evens out some of the week-to-week ups and downs during more volatile stretches, ticked down by 250 to 230,750. The total number of Americans receiving unemployment benefits for the week of May 17 increased by 26,000 to 1.92 million.
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