The Labor Department reported Thursday that applications for jobless claims for the week ending April 29 rose by 13,000 to 242,000 from 229,000 the previous week. The weekly claims numbers are considered a proxy for layoffs.
American workers are enjoying unusual job security despite rising interest rates, economic uncertainty and fears of a looming recession. Another sign that the labor market may be cooling came Tuesday when the government reported that U.S. job openings fell in March to the lowest level in nearly two years.
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