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Washington Today
By the People, for the People
US Jobless Claims Hold at Historic Lows
Layoffs remain at historically low levels despite some high-profile job cuts
Published on Mar. 6, 2026
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The number of Americans applying for unemployment benefits last week was unchanged from the previous week, a sign that layoffs remain at historically low levels. However, the Labor Department recently reported that job openings fell in December to the lowest level in more than five years, indicating a "low-hire, low-fire" state in the job market.
Why it matters
The jobless claims data is viewed as a proxy for U.S. layoffs and a real-time indicator of the health of the job market. While weekly layoffs have remained in a historically low range, a number of high-profile companies have announced job cuts recently, raising questions about the overall strength of the labor market.
The details
U.S. filings for unemployment aid for the week ending Feb. 28 matched the previous week's 213,000, the Labor Department reported. Analysts surveyed by FactSet forecast 215,000 new benefit applications. Last month, the Labor Department reported that U.S. employers added a surprisingly strong 130,000 jobs in January and the unemployment rate fell from 4.4% to 4.3%. However, government revisions cut 2024-25 U.S. payrolls by hundreds of thousands, reducing the number of jobs created last year to just 181,000.
- The Labor Department reported the jobless claims data on Thursday, March 6, 2026.
- The Labor Department reported the January jobs data on Friday, February 7, 2026.
The players
U.S. Department of Labor
The federal agency responsible for collecting and reporting data on the U.S. job market, including unemployment claims and job creation.
FactSet
A financial data and software company that provides market data and analytics to financial professionals.
What’s next
The Labor Department is scheduled to release its February jobs data on Friday, March 7, 2026, which will provide further insight into the health of the U.S. job market.
The takeaway
While weekly jobless claims remain at historically low levels, the recent decline in job openings and high-profile job cuts suggest that the U.S. labor market may be entering a "low-hire, low-fire" state, with hiring slowing and those out of work struggling to find new jobs.
