According to data released by the US Department of Labor on August 7, the number of workers receiving unemployment benefits through “continuing claims” jumped to 1.97 million at the end of July, compared to 1.85 million at the beginning of January.
New jobless claims remain low, rising just 7,000 last week at the end of July, compared with 1.85 million at the beginning of January.
New jobless claims remain low, up just 7,000 last week at the end of July, down from 1.85 million at the beginning of January. New jobless claims remain low, up just 7,000 last week.
The figures reinforce a picture of an increasingly fragile U.S. labor market, according to The Washington Post. Even without a wave of large layoffs, many workers are still unable to find new jobs and face longer periods of unemployment.
Another jobs report released last week showed businesses hiring at nearly the slowest pace in more than a decade, excluding the pandemic.
“We should not underestimate the impact of slowing hiring,” said Daniel Zhao, chief economist at Glassdoor. “That means it’s harder for unemployed people to get back into the workforce, and they may have to take worse jobs, or for those who are employed to not be able to advance their careers.”
Labor experts say the labor market is slowing due to factors such as higher tariffs from the Trump administration, federal spending cuts and tighter immigration policies.
New tariffs on dozens of countries took effect early on Thursday, raising import costs — a burden that could fall on American consumers and businesses and further slow hiring.
“In 2025, businesses are facing a huge amount of uncertainty,” Zhao said. “It’s this uncertainty that makes it difficult for companies to commit to hiring-related plans.”
Federal layoffs have also accelerated and will continue to rise this year. This could spread to other industries. A Supreme Court ruling in July allowed the Trump administration to continue with job cuts.
The report on August 7 added to evidence of a weakening labor market. A jobs report released on August 1 showed the labor market was much slower than previously reported, with job gains in July coming in below expectations and job gains in May and June also revised sharply downward — by 258,000 fewer jobs than initially reported.
The unemployment rate in July also edged up to 4.2%, although it remains relatively low.
President Donald Trump took the unprecedented step of firing the head of the Bureau of Labor Statistics, Erika McEntarfer, just hours after the data was released.
Uncertainty over trade policy is said to be starting to affect labor-sensitive sectors that are vulnerable to higher tariffs. Many retail, construction and manufacturing businesses have put hiring and expansion plans on hold due to concerns about rising import costs.
Meanwhile, hiring in office jobs has been virtually stagnant for months.
Economists say businesses may be trying to retain workers rather than lay them off because of the fierce competition and labor shortages they have experienced since the pandemic. However, if economic conditions continue to deteriorate, a wave of large-scale layoffs may occur./.
According to VNA
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