Applications for unemployment benefits in the United States recorded a small decline last week, remaining at a level considered healthy by historical standards even as several large companies announced layoffs.
The Labor Department reported that new applications for the week ended January 24 fell to 209,000, slightly higher than analysts expected. While the four-week average data rose, indicating that the labor market remains stable but not completely strong.
The latest labor market data continues to reflect slow hiring, with December job growth of only around 50,000 and the unemployment rate falling slightly to 4.4%.
Job vacancies also fell in November, indicating that employers remain cautious about adding workers while maintaining their existing workforce.
Trade policy uncertainty, the impact of previously high interest rates, and the Federal Reserve's cautious stance in keeping interest rates on hold at its most recent meeting continue to shape the labor market landscape ahead of next week's January jobs report.
