/usr/web/www.marshallindependent.com/wp-content/themes/coreV2/single.php
×

US unemployment claims rise

WASHINGTON — The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength.

Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five out of the last six weeks, the Labor Department reported Thursday.

The four-week average for claims, which smooths out weekly ups and downs, rose by 4,500 to 252,000, also the highest since November.

The number of Americans collecting traditional unemployment benefits increased by 8,000 the week that ended July 30 to 1.43 million, highest since early April.

Unemployment applications are a proxy for layoffs and are often seen as an early indicator of where the job market is headed.

So far this year, hiring in the United States has been remarkably strong and resilient in the face of rising interest rates and weak economic growth.

The Labor Department reported last week that U.S. employers added 528,000 jobs last month, more than double what forecasters had expected. The unemployment rate dipped to 3.5% in July, tying a 50-year low reached just before coronavirus pandemic slammed the U.S. economy in early 2020.

Newsletter

Today's breaking news and more in your inbox

Today's breaking news and more in your inbox
Are you a paying subscriber to the newspaper? *
   

Starting at $4.38/week.

Subscribe Today