The unemployment rate among people eligible for benefits held at 2.6 percent, today’s report showed.
Sixteen states and territories reported a decline in claims, while 36 reported an increase. These data are reported with a one-week lag.
Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates.
Google Inc. and FedEx Corp. are among companies planning to trim payrolls.
Mountain View, California-based Google will cut about 4,000 jobs at its Motorola Mobility Holdings Inc. unit, or 20 percent of the staff at the company it bought for about $12.5 billion, according to an Aug. 13 regulatory filing. About one-third of the reductions will be in the U.S. workforce.
FedEx, the world’s largest cargo airline, will offer voluntary buyouts to some workers under a pledge for “significant” cost reductions ahead of expected slower profit growth. Offers may not be made until FedEx’s fiscal fourth quarter starting in March, Shea Leordeanu, a spokeswoman for the Memphis, Tennessee-based company, said in an Aug. 13 interview with Bloomberg News.
The Federal Open Market Committee pledged “additional accommodation as needed” on Aug. 1 in order to sustain the expansion. Policy makers next meet on Sept. 12-13.
Fed officials “will closely monitor incoming information on economic and financial developments” in order to “promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” it said in a statement. The group “expects economic growth to remain moderate over coming quarters and then to pick up very gradually.”
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