US jobless claims rise less than expected to 200,000
Initial claims for state unemployment benefits rose by 10,000 last week but remained below economist forecasts. Low layoff levels continue to anchor the labor market despite recent job cut announcements in the technology sector related to artificial intelligence adoption. The number of people receiving ongoing aid decreased to 1.766 million.
United States jobless claims rose 10,000 to 200,000 last week, according to the Labor Department. The figure beat Reuters poll estimates of 205,000 as low layoffs anchored the labor market. Stable claims suggest labor resilience despite high-profile technology sector cuts and rising geopolitical risks.
Initial claims for state unemployment benefits reached a seasonally adjusted 200,000 for the week ended May 2. This increase partially reversed a decline from the prior week.