US jobless aid filings fell to 209,000 last week as layoffs remain low despite economic uncertainty
Summary
Last week, fewer Americans applied for unemployment benefits, with filings dropping to 209,000. Despite ongoing uncertainties such as the Iran war and rising inflation, layoffs remain low, but job growth has slowed compared to previous years.Key Facts
- Jobless aid applications fell by 3,000 to 209,000 for the week ending May 16.
- The unemployment rate stayed low at 4.3%, with layoffs at historically low levels.
- The U.S. economy faces uncertainty from the Iran war, which has raised oil prices and gas costs.
- Inflation rose 3.8% from April 2025, the largest increase in three years, and wholesale prices increased 6% over the past year.
- The Federal Reserve kept interest rates steady due to inflation and Middle East instability but may consider rate hikes later.
- Hiring has slowed over the past two years, with fewer new jobs added in 2025 compared to 2024.
- Several major companies like Verizon, Amazon, and Walmart have recently cut jobs.
- Jobless claims have mostly stayed between 200,000 and 250,000 weekly since the pandemic recession ended.
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