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Posted on 05/07/2026 7:10:18 AM PDT by lasereye
The number of Americans filing claims for unemployment benefits increased less than expected last week amid low layoffs that are helping to anchor the labor market.
Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 200,000 for the week ended May 2. Economists polled by Reuters had forecast 205,000 claims for the latest week.
Government data on Tuesday showed there were 0.95 job openings for every unemployed person in March versus 0.91 in February, consistent with a stable labor market.
Despite a raft of layoff announcements by big technology firms related to the adoption of artificial intelligence for some job roles, claims have remained below 230,000 this year. Economists speculated that laid-off technology workers were most likely receiving generous severance packages.
A report from global outplacement firm Challenger, Gray and Christmas on Thursday showed U.S.-based employers announced 83,387 job cuts in April, up 38% from March. The tally was, however, down 21% from last year.
Employers have so far this year announced 300,749 job cuts, down 50% from the same period in 2025. Technology companies have accounted for the bulk of the layoffs, with AI often cited as the reason.
There are no signs yet that an oil price shock from the U.S.-Israel war with Iran is weighing on the labor market. Still, economists warned of downside risks as shipping disruptions in the Strait of Hormuz raise prices of commodities, including fertilizers, petrochemicals and aluminum.
The number of people receiving unemployment benefits after an initial week of aid, a proxy for hiring, decreased 10,000 to a seasonally adjusted 1.766 million during the week ended April 25, the claims report showed.
Nonfarm payrolls likely increased by 62,000 jobs last month after rebounding 178,000 in March, a Reuters survey of economists predicted.
(Excerpt) Read more at finance.yahoo.com ...
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Halfway down is this nugget: “job cuts, down 50% from the same period in 2025”
Hmmm...what happened in January 2025 that might account for this dramatic improvement in the economy?
So more companies looking for hires or they just stopped cutting?
“Less than expected.”
Drink!
Lucia Muddikan- Stupid broad can't even write a headline. This is BS use of the English language.
It is written intentionally that way, they are trying to make it sound bad.
A hold-over term from the Great O’bungles.
Mebbe ‘cause in previous times getting “laid off” was a way for illegals to get entered into the welfare system?
That was my thought, too....The headline is nonsensical.
What an absolutely stupid headline.
Because the writer was profoundly disappointed.
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