Layoffs continue to be historically low, according to new figures reported Thursday by the U.S. Labor Department, a sign that the labor market continues to be resilient in the face of economic headwinds.
The number of people applying for unemployment benefits last week dropped to 196,000, down from the 206,000 reported the week before.
The four-week average of claims, which smooths out week-to-week volatility, dropped to 203,250.
According to a report by the Associated Press, economists had expected unemployment claims to be about 207,500 based on a survey by the data firm FactSet.
For the past year, unemployment benefit claims have mostly remained within a historically low range of 200,000 to 230,000 a week.
