Unemployment Claims Drop to Record Low Not Seen Since 1969
WHO:
ABC News - Carl Weinberg, chief economist at High Frequency Trading, commented on the economic crisis caused by the energy supply shock.
ABC News - Companies that have recently trimmed their workforce include Verizon, UPS, Amazon, Disney, Starbucks, and Walmart.
ABC News - Microsoft announced it was cutting 4,800 jobs, about 2.1% of its global workforce.
WHAT:
Fast Company - Payrolls in the private sector grew by an average of 88,000 in the first half of the year, outpacing growth in 2025 and 2024 but not matching the speed of job gains in 2023.
Fast Company - June's hiring missed expectations, with U.S. employers only adding 57,000 new jobs, which is less than half of the jobs added in the month prior, and June also saw the promising jobs numbers from the prior two months revised down, meaning that 74,000 fewer jobs were added than initially reported.
Fast Company - First-time benefit claims dropped by 22,000 to a seasonally adjusted estimate of 187,000 claims for the week ending on July 18.
Fast Company - Continuing unemployment claims dipped by 2,000 claims to 1.8 million.
Fast Company - Payrolls in the private sector grew by an average of 88,000 in the first half of the year.
Fast Company - June's hiring missed expectations, with U.S. employers only adding 57,000 new jobs, which is less than half of the jobs added in the month prior.
Fast Company - A recent CNBC survey found that 61% of registered voters are pessimistic about the current economy, the most negative outcome since late 2023.
Fast Company - Only 25% of respondents in the CNBC survey said they were feeling optimistic about the economy.
ABC News - The number of new applications for unemployment benefits was well below the 215,000 new applications forecast by analysts surveyed by the data firm FactSet.
ABC News - The price for a barrel of U.S. crude surged nearly 5% to more than $91, the highest level in about six weeks.
ABC News - Gas prices in the U.S. are back up above $4 a gallon on average.
ABC News - The government reported that employers added only 57,000 jobs in June, less than half the previous month’s total.
ABC News - The unemployment rate dropped to 4.2% from 4.3% in May, primarily because many out-of-work people gave up looking for jobs and were no longer counted as unemployed.
ABC News - U.S. applications for jobless benefits fell to 187,000, a decrease of 22,000 from the previous week.
ABC News - This figure is the lowest number of weekly applications since the week ending Sept. 6, 1969.
ABC News - The four-week moving average of weekly jobless claims fell by 7,250 to 207,500.
ABC News - The total number of Americans filing for unemployment benefits for the previous week ending July 11 was just under 1.8 million.
WHERE:
ABC News - The data was reported by the Labor Department in Washington.
WHEN:
ABC News - The week ending July 18 saw the reported decline in jobless benefits applications.
ABC News - The previous week ending July 11 is referenced for the total number of Americans filing for unemployment benefits.
WHY:
Fast Company - Hiring began slowing about two years ago and tapered further in 2025 due to President Trump's tariffs, his purge of the federal workforce, and the lingering effects of high interest rates meant to control inflation.
ABC News - Analysts suggest that a prolonged war and higher-than-normal energy costs could eventually force companies to reduce costs by lowering head counts.
ABC News - Layoffs remain historically low despite global economic uncertainty and surging oil prices due to the U.S.'s military attack on Iran.
ABC News - Analysts suggest that a prolonged war and higher energy costs could eventually lead companies to reduce costs by lowering head counts.
HOW:
AP News - The four-week moving average of weekly jobless claims, which adjusts for volatility, fell by 7,250 to 207,500.
ABC News - Weekly jobless aid applications have stabilized in a range mostly between 200,000 and 250,000 since the U.S. economy emerged from the pandemic recession.
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 23, 2026 22:20 UTC)
Payrolls in the private sector grew by an average of 88,000 in the first half of the year, which is an improvement over the growth seen in 2025 and 2024, but still falls short of the job gains recorded in 2023. In June, U.S. employers added only 57,000 new jobs, significantly missing expectations and marking a drop from the previous month, with revisions showing 74,000 fewer jobs were added than initially reported. Meanwhile, the four-week moving average of weekly jobless claims decreased by 7,250, bringing the total to 207,500.
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(UPDATED July 23, 2026 21:20 UTC)
First-time benefit claims have dropped by 22,000, bringing the seasonally adjusted estimate to 187,000 for the week ending July 18, while continuing unemployment claims also saw a slight decrease of 2,000, totaling 1.8 million. In the private sector, payrolls grew by an average of 88,000 in the first half of the year, although June's hiring fell short of expectations with only 57,000 new jobs added. A recent CNBC survey revealed that 61% of registered voters are pessimistic about the economy, marking the most negative sentiment since late 2023, with only 25% expressing optimism.
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(UPDATED July 23, 2026 19:27 UTC)
New applications for unemployment benefits came in significantly lower than expected, with only 57,000 jobs added in June, which is less than half of the previous month’s total. Meanwhile, the price of a barrel of U.S. crude has surged nearly 5% to over $91, pushing average gas prices back above $4 a gallon. Analysts warn that ongoing conflicts and elevated energy costs may lead companies to consider reducing their workforce to manage expenses.
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(UPDATED July 23, 2026 14:46 UTC)
The economic crisis triggered by the energy supply shock has led to significant layoffs, with companies like Microsoft cutting 4,800 jobs, while Verizon, UPS, Amazon, Disney, Starbucks, and Walmart have also trimmed their workforces. Despite this, U.S. applications for jobless benefits fell to 187,000 for the week ending July 18, marking the lowest number of weekly applications since the week ending September 6, 1969, and bringing the four-week moving average down to 207,500. Analysts note that while layoffs remain historically low amid global economic uncertainty and rising oil prices due to the U.S. military action against Iran, the potential for a prolonged conflict and higher energy costs could eventually pressure companies to reduce their workforce further.