Top employer in each state over time

Jobless claims in the U.S. fell for the sixth consecutive week, reaching the lowest level since mid-April.

The Labor Department said Thursday that applications for the week ending July 19 dropped by 4,000 to 217,000—below the 227,000 economists had forecast. Jobless claims are a key indicator of layoffs.

Earlier this month, the department reported a surprising gain of 147,000 jobs in June, signaling continued strength in the labor market despite ongoing uncertainty around President Donald Trump’s economic policies. The unemployment rate dipped to 4.1% from May’s 4.2%.

While the job market remains solid by historical standards, cracks have emerged. Many employers are feeling the impact of Trump’s trade policies, especially tariffs that raise costs for both businesses and consumers. Economists argue the tariffs reduce efficiency by limiting competition and risk provoking retaliation from other countries—pressuring exports and dampening hiring.

The deadline for many of Trump's proposed import taxes was pushed to Aug. 1. Without trade deals to ease tariffs, economists warn the levies could drag on growth and spark fresh inflation.

The Labor Department also noted the four-week average of claims, which smooths weekly volatility, dropped by 5,000 to 224,500. Continuing claims for the week of July 12 rose slightly by 4,000 to 1.96 million.

Major companies announcing layoffs this year include Microsoft, Meta, Google, Starbucks, CNN, Dow, Procter & Gamble, Southwest Airlines, and Workday.