The number of initial jobless claims in the United States has dropped to a nearly two-year low, but the pattern of the job market with "low hiring, low layoffs" remains unchanged.

Last week, the number of first-time applications for unemployment benefits in the United States fell to one of the lowest levels in nearly two years, indicating that business layoffs are still relatively weak. Data released by the U.S. Department of Labor on Thursday showed that for the week ending March 28, initial claims for unemployment benefits decreased by 9,000 to 202,000 people. The median forecast among market economists was 212,000 people. As an alternative indicator for the number of people receiving unemployment benefits, the number of continuing claims for unemployment benefits rose to 1.84 million people in the previous week. Thursday's data, along with other recent economic indicators, show that the U.S. job market is still in a phase of "low hiring, low layoffs." In recent weeks, initial claims for unemployment benefits have been hovering at relatively low levels, indicating that employers are still retaining existing employees despite a slowdown in hiring. Another set of data released earlier this week shows that the pace of hiring in February slowed to its weakest level in nearly six years. Data released earlier on Thursday by outplacement firm Challenger, Gray & Christmas Inc. showed that in the first quarter of 2026, U.S. employers announced layoffs of 217,362 people, the lowest level for the same period since 2022. Economist Eliza Winger said, "Initial claims for unemployment benefits have been below the same period last year for seven consecutive weeks, with an average weekly decrease of about 16,000 people. Although some industries (especially the technology industry) have seen an increase in layoffs, the number of people filing for unemployment benefits remains low, indicating that companies are not generally cutting staff." The four-week moving average, used to smooth fluctuations, dropped to 207,750 people. Before seasonal adjustments, initial claims for unemployment benefits also decreased. Michigan, Georgia, and Iowa saw the largest declines. The government will release the March non-farm payroll report on Friday, with expectations of moderate job growth from employers and unchanged unemployment rates.