Applications for US jobless benefits fall to 2-month low as layoffs remain at healthy levels

AP Business Writer

The number of Americans filing for unemployment benefits fell to its lowest level in two months last week, signaling that layoffs remain relatively low despite other signs of labor market cooling. Jobless claims fell by 5,000 to 227,000 for the week of Aug. 31. That’s the fewest since the week of July 6, when 223,000 Americans filed claims. It’s also less than the 230,000 new filings that analysts were expecting. The four-week average of claims, which evens out some of the week-to-week volatility, fell by 1,750 to 230,000. That’s the lowest four-week average since early June. Weekly filings for unemployment benefits, considered a proxy for layoffs, remain low by historic standards, though they are up from earlier this year.