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SaltWire's Atlantic regional weather forecast for October 5, 2023 | SaltWireWASHINGTON - The number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still-tight labor market conditions.
Claims could push higher this month as the United Auto Workers strike, now in its third week, constrains supply chains and forces manufacturers to temporarily lay off more non-striking workers. Ford Motor, General Motors and Chrysler-parent Stellantis have furloughed and laid off hundreds of workers because of strike impacts.
A separate report from global outplacement firm Challenger, Gray & Christmas on Thursday showed U.S. companies announced 47,457 job cuts in September, down 37% from August. Announced layoffs were, however, 58% higher compared to the same period last year. Employers announced 146,305 job cuts in the third quarter, down 22% from the April-June quarter.
The number of people receiving benefits after an initial week of aid, a proxy for hiring, slipped 1,000 to 1.664 million during the week ending Sept. 23, the claims report showed.
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