The number of Americans filing new applications for jobless benefits unexpectedly fell to a seven-week low last week, suggesting employers may be holding on to workers despite other indications of a cooling labor market and creating no urgency for the Federal Reserve to resume its interest rate cuts.

Initial filings for unemployment benefits in Texas dropped last week compared with the week prior, the U.S. Department of Labor said Thursday. New jobless claims, a proxy for layoffs, fell to 15,134 in the week ending July 5,

Initial filings for unemployment benefits in Missouri rose last week compared with the week prior, the U.S. Department of Labor said Thursday. New jobless claims, a proxy for layoffs, increased to 3,425 in the week ending July 5,