US jobless claims fall to 203,000 as hiring and layoffs both stay subdued

The US Department of Labor said Thursday (local time) that initial jobless claims for the week of Aug. 16–22 totaled 203,000, down 4,000 from the previous week.

The figure came in below the 208,000 forecast compiled by Dow Jones.

Continuing claims — filed by workers who have been receiving unemployment benefits for two or more weeks — stood at 1.778 million for the week of Aug. 9–15, down 18,000 from the prior week.

Initial claims had dropped into the 180,000 range in mid-July, touching their lowest level since 1969. They have edged up slightly since then but remain low.

The data supports the view that companies are continuing to hire at a modest pace while slowing layoffs.