US Jobless Claims Slightly Fall to 215,000 Amid Stable Layoffs
WHO:
ABC News - Microsoft announced it is cutting 4,800 jobs, about 2.1% of its global workforce, including a large number of workers at its Xbox video game business.
ABC News - The Labor Department reported on jobless claims.
ABC News - Companies that have recently trimmed their workforce include Verizon, UPS, Amazon, Disney, Starbucks, Walmart, and Microsoft.
WHAT:
Bloomberg Markets - The median forecast in a Bloomberg survey of economists called for 217,000 applications for jobless aid, which is different from the FactSet forecast of 220,000.
ABC News - U.S. applications for jobless aid in the week ending July 4 decreased by 2,000 to 215,000.
ABC News - Analysts surveyed by FactSet had forecasted 220,000 new applications.
ABC News - The four-week moving average of jobless claims fell by 3,750 to 218,750.
ABC News - The total number of Americans filing for unemployment benefits for the previous week ending June 27 rose by 8,000 to 1.81 million.
ABC News - Employers added only 57,000 jobs in June, which is less than half of the previous month’s total.
WHERE:
ABC News - The report pertains to the U.S. job market.
WHEN:
ABC News - The week ending July 4 is referenced for jobless claims.
ABC News - The previous week ending June 27 is referenced for total unemployment benefits.
WHY:
ABC News - The decline in the unemployment rate to 4.2% from 4.3% in May is attributed to many out-of-work individuals giving up on job searches.
ABC News - The slowdown in hiring began about two years ago and was exacerbated in 2025 due to President Trump’s tariffs, his purge of the federal workforce, and high interest rates aimed at controlling inflation.
HOW:
ABC News - The week ending July 4 included the Independence Day holiday, which may have influenced jobless claims.
ABC News - Weekly filings for unemployment benefits are considered a proxy for layoffs and a real-time indicator of the health of the U.S. job market.
(UPDATED July 9, 2026 15:58 UTC)
Microsoft has announced it will be cutting 4,800 jobs, which represents about 2.1% of its global workforce, with many of those layoffs occurring in the Xbox video game division. Meanwhile, a Bloomberg survey of economists predicts that there will be 217,000 applications for jobless aid, contrasting with the FactSet forecast of 220,000. It's worth noting that the week ending July 4 included the Independence Day holiday, which could have impacted the number of jobless claims.
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(UPDATED July 9, 2026 13:55 UTC)
The Labor Department has reported that U.S. applications for jobless aid decreased by 2,000 to 215,000 in the week ending July 4, which is notably lower than the 220,000 new applications analysts had predicted. However, the total number of Americans filing for unemployment benefits for the previous week ending June 27 rose by 8,000 to 1.81 million, and employers added only 57,000 jobs in June, significantly less than the previous month's figures. The decline in the unemployment rate to 4.2% from 4.3% in May is linked to many out-of-work individuals giving up on job searches, a trend that has been exacerbated by factors such as President Trump’s tariffs and high interest rates aimed at controlling inflation.