by the Labor Department show initial claims for the week ended April 29 hit 242,000, higher than the 2019 pre-pandemic average of 218,000 claims. That is also above the level recorded the previous week, which was revised slightly lower to 229,000.
Continuing claims, filed by Americans who are consecutively receiving unemployment benefits, fell slightly to 1.8 million for the week ended April 22, a decrease of 38,000 from the previous week. Job seekers visit booths during the Spring Job Fair at the Las Vegas Convention Center Friday, April 15, 2022.For months, the labor market remained a strong point in the slowing economy, despite an aggressive interest-rate hike campaign by theLayoffs are on the rise and job openings are declining. Although private-sector hiring rose faster than expected in April, jobless claims are also steadily ticking higher.
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Source: Reuters - 🏆 2. / 97 Read more »