Layoffs remain scarce in the U.S. economy, indicating a rarely achieved level of job security for American workers, data from the Department of Labor showed Thursday.
Initial claims for unemployment benefits, a proxy for layoffs, rose to 211,000 last week from the prior week’s downwardly revised 199,000. This slightly exceeded expectations.
Claims can be volatile week-to-week. For a better read on the underlying health of the labor market, analysts look to the four-week moving average of claims. These ticked up to 203,750 from the downwardly revised average of 203,000 in the prior week.
This combination of low weekly claims and low average…
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