US EditionUnemployment Claims Rise to Highest Level in 8 Months, Signaling Slowdown
- The U.S. Labor Department reported that initial jobless claims increased by 8,000, reaching a total of 247,000 in the week that concluded on May 31, marking the highest level seen in the past eight months.
- This increase follows a four-month rise in unemployment, the longest since the 2009 recession, and coincides with a surge of 917,000 people shifting from employment in April to outside the labor force in May.
- Despite steady unemployment at 4.2%, analysts note layoffs climbed in April while quits fell, and job openings unexpectedly increased to 7.4 million that month, suggesting mixed labor market signals.
- Andrew Challenger noted that tariffs, reductions in funding, declining consumer expenditures, and a general sense of economic uncertainty are creating significant challenges for employers and their staff.
- Though layoffs and jobless claims are rising, total unemployment benefit recipients slightly decreased to 1.9 million, indicating the job market shows signs of strain but remains within historically typical ranges.
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Unemployment aid applications in the United States registered their highest level in eight months last week, but remain historically low despite growing uncertainty as to how tariffs could affect the economy as a whole.
·Los Angeles, United States
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Total News Sources15
Leaning Left8Leaning Right1Center1Last UpdatedBias Distribution80% Left
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- 80% of the sources lean Left
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L 80%
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