US initial jobless claims rose by 10,000 to 200,000 in the week ended May 2, slightly above the prior week but below economist forecasts, signaling layoffs remain limited despite recent corporate job-cut announcements. Continuing claims fell to 1.77 million, the lowest level in two years. The data suggest the labor market remains in a “low-hire, low-fire” environment, even as companies including Meta and Nike announce layoffs. Economists expect Friday’s April jobs report to show a second consecu

US initial jobless claims rose by 10,000 to 200,000 in the week ended May 2, slightly above the prior week but below economist forecasts, signaling layoffs remain limited despite recent corporate job-cut announcements. Continuing claims fell to 1.77 million, the lowest level in two years. The data suggest the labor market remains in a “low-hire, low-fire” environment, even as companies including Meta and Nike announce layoffs. Economists expect Friday’s April jobs report to show a second consecutive monthly payroll increase, while a separate report showed tech-sector job cuts continued to rise.