US weekly jobless claims rise slightly

US unemployment benefit claims rose to 199,000 applications in the week ending August 1st, an increase of 1,000 from the previous week, even though layoff levels remain within historically healthy ranges. Employment levels declined in June, with companies adding only 57,000 jobs, which is less than the previous month, while the unemployment rate decreased to 4.2% due to some people exiting the labor force. The non-farm employment report for July is expected to be released soon, with continued expectations that the labor market remains resilient despite the overall slowdown in hiring.

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