The number of people filing for unemployment benefits for the first time fell by 6,000 in the latest week, as 186,000 Initial Jobless Claims were reported. This marked the second week in a row that Initial Jobless Claims declined, keeping them below 200,000. Continuing Claims, which measure people who continue to receive benefits after their initial claim is filed, rose 20,000 to 1.675 million.

What’s the bottom line? Data from the latest Bureau of Labor Statistics Jobs Report showed that companies are reducing workers’ hours as opposed to outright letting them go, which may be contributing to the decline in initial unemployment claims. However, Continuing Claims have risen by more than 300,000 over the last four months, which suggests it’s becoming harder for many to find a job if they are let go.