Initial claims for state unemployment benefits rose by 13,000 to a seasonally adjusted 225,000 for the week ended May 30, 2026, marking a notable uptick in layoffs [1, 2]. The four-week moving average of jobless claims also increased by 6,500 to 214,750, suggesting a modest rise in weekly filings over the past month [1, 2].
Employers announced 97,006 job cuts in May 2026, a 16% increase from April, with about 39% of those cuts occurring in the technology sector [1]. Despite the jump in layoffs, the US unemployment rate held steady at 4.3% in April 2026 [1, 2].
Non-farm payrolls likely rose by 85,000 jobs in May, following 115,000 jobs added in April, though these figures carry medium confidence due to preliminary reporting [1]. In April, hiring slowed while layoffs also declined, indicating payroll gains reflected fewer separations rather than robust new hiring [1].
The May labor market showed signs of mixed strength as rising job cuts weighed on initial claims, but steady unemployment and continued payroll growth indicate underlying resilience. The labor market data for June will provide further clarity on these trends.
