Jobless Claims Remain Near Pandemic Lows Despite Small Rise, Pointing to Strong Labor Market

Jobless claims rose slightly to 207,000 last week but remain near pandemic lows, pointing to a strong labor market.

Claims are far below the 300,000 level that typically signals a recession is approaching.

The number of people collecting unemployment benefits was little changed at 1.66 million.

The labor market is cooling off due to less hiring, not more layoffs.

Companies are reluctant to shed workers amid the worst labor shortage since WWII.