US Jobless Claims Steady at 200,000 in Sign of Low Layoffs (2)

Applications for US unemployment benefits were little changed last week, steadying at low levels after a volatile holiday season.

Initial claims increased by 1,000 to 200,000 in the week ended Jan. 17, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 209,000.

Applications have been at or below 200,000 just a few times in the past three years, most of them around the holidays. Such figures are consistent with a labor market defined by limited layoffs.

After three consecutive rate cuts in an effort to bolster the ...