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Applications for US unemployment benefits dip to 210,000 in strong job market

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The number of Americans signing up for unemployment benefits fell slightly last week, another sign that the labor market remains strong and most workers enjoy extraordinary job security.

A hiring sign is seen outside of a barber shop in Northbrook, Ill., Tuesday, March 12, 2024. On Thursday, March 28, 2024, the Labor Department issues the latest weekly report on first-time applications for unemployment benefits. –

Applications for unemployment benefits are viewed as a proxy for layoffs and a sign of where the job market is headed. Despite job cuts at Stellantis Electronic Arts, Unilever and elsewhere, overall layoffs remain below pre-pandemic levels. TheEconomists expect some tightening in the jobs market this year given the surprising growth of the U.S. economy last year and in 2024.from October through December, the government said Thursday in an upgrade from its previous estimate.

 

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