Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Number of Americans Filing for Jobless Claims Is Elevated for Second Straight Week

ADVERTISEMENT

The number of Americans applying for unemployment benefits remained elevated last week, a possible sign that the Federal Reserve’s interest rate hikes over the past year may taking hold in what’s proved to be a resilient job market.

U.S. applications for jobless claims were 262,000 for the week ending June 10, the Labor Department reported Thursday, more than analysts were expecting. This week’s number mirrors last week’s, which was revised up by 1,000. The claims numbers for the past two weeks are the highest since October of 2021.

Number of Americans Filing for Jobless Claims Is Elevated for Second Straight Week

The four-week moving average of claims, which flattens some of the week-to-week fluctuations, rose by by more than 9,000 to 246,750. That’s the highest level since November of 2021.

Overall, 1.78 million people were collecting unemployment benefits the week that ended June 3, about 20,000 more/fewer than the previous week.

ADVERTISEMENT

Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Political Cartoons

Source link

Nathan
Nathan

Nathan is an experienced journalist. He's covered a broad spectrum of topics, including politics, culture, and human interest stories, always aiming to engage and inform his audience. Nathan has a degree in Journalism and upholds the highest standards of integrity and accuracy in his work.

Articles: 1310