US weekly jobless claims rise to highest level since August of 2023
- The Labor Department reported an increase in unemployment claims to 231,000 for the week ending May 4, up from 209,000 the previous week. This marks the highest number since August 2023.
- The four-week average of claims also increased by 4,750 to 215,000, helping to moderate the weekly fluctuations.
- Weekly unemployment claims serve as an indicator of layoffs in the U.S. And offer insight into the current state of the job market.
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Leaning Left12Leaning Right3Center16Last Updated11 days agoBias Distribution52% Center