Paul Wiseman, AP Economics Writer
WASHINGTON (AP) — The number of Americans applying for unemployment benefits that were soaked into 245,000 last week has hovered at a historically low level, the Labor Department said Wednesday.
The US unemployed claims it has been cut from the previous 250,000. The economists expected last week’s claim to coincide with 250,000.
The four-week average of billing smoothing weekly volatility rose to 245,500, the highest since August 2023.
The number of Americans raising unemployment rates fell to 1.95 million in the week of June 7th.
The weekly unemployment claims represent layoffs, and have remained mainly in healthy bands ranging from 200,000 to 250,000, since the economy recovered from a short but painful Covid-19 recession in 2020.
However, in recent weeks, billing has remained at the high end of the scope, adding evidence that the U.S. job market is slowing after years of strong employment. So far, employers have added something decent from the epic 124,000 jobs a month, but far from the epic 124,000 jobs, from an average of 168,000 last year to an average of nearly 400,000 from 2021 to 2023.
The slowdown in employment is part of the 2022 and 2023 results of 11 Federal Reserve interest rate hikes. But Trump’s aggressive and often false trade policy (including 10% tax on imports from almost every country on the planet, but also the economy, paralyzed consumers worry about the consumers who fear them.
High Frequency Economics’ Carl Weinberg worries that claims remain rising compared to recent years when employment remained very low by historical standards.
“We believe that the labour market, in particular, is still very close to full employment, in order to ensure that businesses do not accidentally lay off skilled and trained workers,” Weinberg wrote. “The uncertainty is still high, so businesses continue to hesitate about layoffs. That could be changing.”
The Fed has cut its fees three times last year, satisfying the decline in inflation. However, the central bank was cautious in 2025, worrying that Trump’s tariffs would rekindle inflationary pressures. The Fed is expected to not change prices as it closes its two-day meeting on Wednesday.
Original issue: June 18, 2025 9:25am EDT
