U.S. Jobless Claims Rise Slightly
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States reported that 262,000 workers filed for
new unemployment benefits during the week ending August 6. Unemployment claims have generally been rising this year and are hovering near the highest level since Nov. 2021. Prior to that, claims had been running around their lowest levels since the late 1960s, but started ticking higher in June, coinciding with an increase in job cuts and hiring freezes being reported, primarily in the technology sector.
The number of workers continuing to claim unemployment benefits—1.4 million—is still well below the pre-pandemic average of 1.7 million.
In other labor market news, the Labor Department's
July employment report showed that U.S. employers added a staggering 528,000 new jobs last month, far surpassing economists' forecasts. The unemployment rate ticked down to 3.5 percent, close to what is considered full employment and a half-century low. Payrolls have finally returned to pre-pandemic levels last seen in February 2020.
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
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