Very few Americans are losing their jobs to layoffs, data from the Department of Labor indicated Thursday.
The number of initial claims for unemployment benefits inched up to 200,000 last week. That was above the prior week’s revised 190,000 but below expectations for 210,00.
By historical standards, it has been rare for jobless claims—which are a proxy for layoffs—to fall this low. It suggests that employers are holding on to their workforces despite headwinds such as high interest rates and the sharp rise in gasoline and energy prices stemming from the Iran war.
Holding on to this low level is even rarer. The four-week moving average of new…
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