Economy

Claims hit 229,000, the highest level since January

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A man walks past a “We’re Hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022.

Olivier Douliery | AFP | Getty Images

Initial jobless claims spiked to their highest level since mid-January last week despite signs of an otherwise strong employment picture, the Labor Department reported Thursday.

First-time filings for the week ended June 4 totaled 229,000, an increase of 27,000 from the upwardly revised level in the prior period and well ahead of the 210,000 Dow Jones estimate. The period covered includes the Memorial Day holiday; seasonal adjustments normally would lead to a lower number.

The last time initial claims were that high was Jan. 15.

However,…



Source cnbc.com

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