Unemployment Claims Remain Low Despite Some Recent Layoffs

Applications for unemployment benefits fell by 8,000 to 212,000 for the week ending Feb. 10, showing continued labor market resilience.

The 4-week average of claims rose to 218,500, up from 212,750 the previous week.

Weekly claims remain at extraordinarily low levels despite Federal Reserve interest rate hikes intended to cool the economy.

The job market has remained surprisingly resilient, with 353,000 jobs added in January and the unemployment rate staying at 3.7%.

Some increased layoffs recently in technology, media, UPS, Macy's and Levi's, but overall job cuts still at low levels.