US Weekly Jobless Claims Unchanged, Layoffs Decline 55% in February

Labor market conditions remain stable despite some economic uncertainty

Published on Mar. 5, 2026

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The number of Americans filing new applications for unemployment benefits was unchanged last week, while layoffs dropped sharply in February, according to data from the U.S. Labor Department. This suggests the labor market is regaining its footing after stumbling last year due to economic uncertainty stemming from President Trump's trade policies.

Why it matters

The stability in jobless claims and decline in layoffs indicate the labor market is weathering broader economic challenges, providing optimism that it will regain momentum this year as tax cuts stimulate demand. However, tepid hiring means some who lose jobs are experiencing longer bouts of unemployment.

The details

Initial claims for state unemployment benefits were flat at a seasonally adjusted 213,000 for the week ended February 28. Separately, U.S.-based employers announced 48,307 job cuts in February, down 55% from January and 72% from a year ago. Hiring plans soared 140% from January, but were down 63% compared to last February.

  • For the week ended February 28, initial jobless claims were unchanged.
  • In February 2026, U.S. employers announced 48,307 job cuts, down 55% from January.

The players

Donald Trump

The former U.S. president whose broad tariffs contributed to economic uncertainty that impacted the labor market.

U.S. Supreme Court

The court struck down the president's import duties, leading to a new 10% global tariff that was later raised to 15%.

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What’s next

The February employment report due on Friday is expected to show nonfarm payrolls increased by 59,000 jobs after accelerating 130,000 in January, with the unemployment rate holding steady at 4.3%.

The takeaway

While the labor market faces some economic headwinds, the stability in jobless claims and decline in layoffs suggest it is regaining its footing, providing optimism that it will build momentum this year as tax cuts spur demand. However, tepid hiring means some who lose jobs are experiencing longer periods of unemployment.