Trending Now - Jobless Claims Steady as Layoffs Drop Significantly in February

WHO:

Labor Department

President Donald Trump

Economists from FactSet and Reuters

Global outplacement firm Challenger, Gray & Christmas

WHAT:

U.S. jobless claims for the week ending February 28, 2026, were unchanged at 213,000.

Analysts had forecasted 215,000 new benefit applications.

U.S. employers added 130,000 jobs in January 2026.

The unemployment rate fell from 4.4% to 4.3% in January 2026.

Job cuts announced by U.S.-based employers in February 2026 totaled 48,307, down 55% from January 2026 and down 72% from February 2025.

The four-week moving average of jobless claims fell by 4,750 to 215,750.

The number of Americans receiving unemployment benefits after the initial week increased by 46,000 to 1.868 million for the week ending February 21, 2026.

Nonfarm payrolls are predicted to have increased by 59,000 jobs in February 2026.

WHERE:

Washington, D.C.

WHEN:

February 28, 2026: Jobless claims reported at 213,000.

January 2026: 130,000 jobs added, unemployment rate at 4.3%.

February 2026: Job cuts announced totaled 48,307.

February 21, 2026: 1.868 million Americans receiving unemployment benefits.

WHY:

The labor market is experiencing uncertainty due to President Trump's tariffs, which were struck down by the U.S. Supreme Court.

Rising nonlabor input costs, softer demand, and uncertainty about economic conditions are cited as reasons for flat or lower employment levels.

HOW:

Jobless claims are viewed as a proxy for U.S. layoffs and a real-time indicator of job market health.

The Federal Reserve's Beige Book report indicated stable employment levels across seven of twelve districts.

In Washington, D.C., the Labor Department reported that U.S. jobless claims for the week ending February 28, 2026, remained unchanged at 213,000, which was slightly below analysts' expectations of 215,000 new applications. Meanwhile, employers added 130,000 jobs in January, lowering the unemployment rate from 4.4% to 4.3%, and job cuts announced in February totaled 48,307, reflecting a significant decline from previous months. The four-week moving average of jobless claims also fell by 4,750 to 215,750, indicating a mixed but cautiously optimistic outlook for the labor market amid ongoing economic uncertainties.