US Unemployment Claims Edge Up Amid Softening Labor Market

The number of Americans applying for unemployment benefits slightly increased last week, yet layoffs remain low despite labor market uncertainties. Weekly jobless claims rose by 1,000 to 200,000, below analyst expectations. The average claims dipped by 3,750 to 201,500, reflecting ongoing labor market resilience.

Unemployment claims in the United States saw a subtle rise last week, with filings for jobless aid inching up by 1,000 to 200,000, according to the Labour Department. Although this increase suggests some softening in the labor market, layoffs remain historically low.

Analysts surveyed by data firm FactSet had predicted more significant numbers, expecting around 207,000 new applications. However, the reality showed a more resilient job market, underscored by a decline in the four-week moving average of jobless claims, which fell by 3,750 to stand at 201,500.

This trend indicates that the job market in the US continues to display strength, as the total number of Americans filing for unemployment benefits dipped by 26,000 to reach 1.85 million in the preceding week ending January 10.

(With inputs from agencies.)