Jobless claims rise more than expected to highest since October 2021


Jobless claims increase more than expected to their highest since October 2021

First-time jobless claims rose sharply last week in a potential sign that the labor market is softening up after more than a year of interest rate hikes.

Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000 from the upwardly revised level of the previous period, the Labor Department reported Thursday.

The total was well ahead of the Dow Jones estimate for 235,000 and was the highest weekly rate since Oct. 30, 2021.

That weekly jump pushed up the four-week moving average of claims by 7,500 to 237,250, the highest since April 29. Continuing claims, which run a week behind the headline number as they measure those who…


0 0 votes
Article Rating

Amazon HQ2 is not matching original hype. Economy is partly to blame

Previous article

The Chinese dragon’s still dozing

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Economy