US weekly unemployment benefit applications decline as labor market crisis continues

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US weekly unemployment benefit applications decline as labor market crisis continues

The number of Americans applying for new unemployment benefits fell last week, in line with the conditions of the labor market, which continues to experience a crisis amid strong demand for workers despite interest rate hikes and tightening financial conditions. The Ministry of Labor said today that applications for government unemployment benefits submitted for the first time fell in the week ending May 21 by eight thousand to 210 thousand afte…