The number of Americans applying for jobless aid ticked up last week but layoffs remain at historically low levels.
The Labor Department reported Thursday that jobless claim applications rose by 3,000 to 221,000 for the week of Nov. 2. That’s fewer than the 227,000 analysts forecast.
The four-week average of weekly claims, which softens some of the week-to-week fluctuations, fell by 9,750 to 227,250.
Weekly applications for jobless benefits are considered representative of U.S. layoffs in a given week.
Continuing claims, the total number of Americans collecting jobless benefits, rose by 39,000 to 1.89 million for the week of Oct. 26. That’s the most since late 2021.