Americans filing for jobless aid remain at historically low levels below 200,000
Claims rise slightly
Applications for unemployment benefits increased modestly last week. These claims offer a measure of layoffs and are monitored for clues about the direction of the job market. So far this year, claims have remained under 220,000, a historically low level. The figures point to continued job security for most American workers.
September hiring slowed
The government reported that employers added 29,000 jobs in September. That was far fewer than the 133,000 added in August and fell short of economists’ expectations. The hiring slowdown comes as population growth eases and immigration to the United States declines. With fewer people entering the workforce, the economy does not need to create as many jobs each month to maintain a low unemployment rate.
Retailers announce cuts
Kroger said earlier this week it plans to eliminate about 3,000 corporate jobs over the next three years. The grocery chain’s announcement adds to signs of some employers trimming staff. Albertson’s, a rival grocery chain that has already reduced its workforce, said it expects further job cuts.
Key points
- Unemployment benefit applications rose slightly last week, but remained historically low.
- Claims have stayed below 220,000 so far this year.
- Employers added 29,000 jobs in September, down from 133,000 in August.
- Kroger plans about 3,000 corporate job cuts over three years; Albertson’s expects more reductions.