Unemployment claims in the United States have fallen to 200,000, with layoffs at their lowest level on record.
The number of new jobless claims in the United States fell by 11,000 last week to 200,000, reflecting the lowest layoffs on record and the strongest labor market in decades.
Job openings, for example, have fallen from a record high, and the Fed's Beige Book reports that some businesses have implemented hiring freezes as fears of a recession grow.
The only states with significant increases were California and Mississippi.
Meanwhile, the number of people already receiving unemployment benefits fell by 34,000 to 1.31 million in the week ending May 21.