Job Claims Fall to Seven-Month Low as Employers Hold the Line on Layoffs

Despite plenty of headlines about layoffs, American companies are not letting go of many workers.

Americans filed 216,000 new applications for unemployment benefits last week, down 6,000 from the prior week and marking the lowest level since mid-April, the Labor Department reported Wednesday.

The decline defied economists’ expectations for claims to rise to 225,000 and suggests companies remain reluctant to cut workers despite mounting economic headwinds and a string of high-profile layoff announcements.

The number of Americans continuing to collect unemployment benefits edged up to 1.96 million for the week ended Nov. 15, hovering near levels last seen during the pandemic recovery. While initial filings remain relatively low by historical standards, the uptick in continuing claims poin