The number of Americans applying for unemployment benefits rose last week, according to the Associated Press, but layoffs remain historically low and the job market broadly healthy.
Applications for jobless benefits rose by 14,000 for the week ending Jan. 11, the Labor Department said Thursday, up from the previous week’s 203,000. The previous week’s figure was the lowest since February of last year.
The four-week average of claims, which softens some of the week-to-week volatility, dipped by 750 to 212,750. The total number of Americans receiving unemployment benefits for the week of Jan. 4 fell by 18,000 to 1.86 million.
Weekly applications for jobless benefits are considered a proxy for layoffs. Though some signs of labor market weakness surfaced in 2024, jobs are still plentiful and layoffs historically low.
