The initial jobless claims in the United States last week increased less than expected, indicating that the U.S. labor market is still in a state of "slowing hiring and slowing layoffs."

BlockBeats News, July 30th. The number of initial jobless claims in the U.S. last week was lower than market expectations, indicating that the labor market situation remains stable. The U.S. Department of Labor announced on Thursday that for the week ending July 25th, the number of initial claims for unemployment benefits in various states increased by 9,000, with the seasonally adjusted total reaching 197,000. Economists had previously predicted 200,000.

This increase partially offset the previous week's decline, which had hit the lowest level since 1969. Initial jobless claims data for July often show large fluctuations because automakers usually shut down for annual maintenance and retooling. However, this year General Motors kept most assembly plants running normally, while Ford canceled the traditional summer shutdown at truck factories. This disruption may have affected the government's statistical model for smoothing out seasonal fluctuations. Economists state that the U.S. labor market is still in a state of "slower hiring, slower layoffs."