Initial Jobless Claims inched higher by 2,000 in the latest week, with 205,000 people filing for unemployment benefits for the first time. Continuing Claims were relatively flat, falling by 1,000 as 1,865,000 million people are still receiving benefits after filing their initial claim.  

What’s the bottom line? The low number of Initial Jobless Claims suggests that layoffs remain muted as employers are trying to hold on to workers. Yet, Continuing Claims have been trending higher and point to a weakening labor market, where it’s much harder for people to find employment once they are let go.