La Jornada: Applications for unemployment aid in the US fall to their lowest level since 1969

The number of Americans who filed for unemployment benefits in the week ending July 18 decreased by 22,000 to 187,000, the Labor Department reported.

According to department data, this is the lowest number of weekly requests since the week ending September 6, 1969.

It is also well below the 215,000 new claims expected by analysts surveyed by data firm FactSet.

Weekly claims for jobless aid are considered a proxy for layoffs and are close to a real-time signal of the health of the U.S. labor market.

Despite the rise in oil prices, resulting from the United States military attack against Iran, the US labor market remains healthy and layoffs remain historically low. However, analysts say a prolonged war and higher-than-normal energy costs could end up eroding that strength, forcing companies to cut expenses and resort to downsizing.

“The economic crisis caused by shock in energy supply is not over yet,” warned Carl Weinberg, chief economist at High Frequency Trading. “But the labor market has yet to show signs of wear and tear from rising oil prices.”

Weekly claims for unemployment aid have stabilized in a range of between 200,000 and 250,000 since the economy emerged from the pandemic-induced recession. However, hiring began to slow two years ago and moderated further in 2025, due to President Donald Trump’s tariffs, his purging of the federal workforce and the lingering effects of high interest rates aimed at controlling inflation.