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.
