Jobless claims spike, in worrisome sign for the US labor market
CNN
First-time applications for unemployment benefits rose more than expected last week, indicating that cracks may be forming in America’s long-solid labor market. And an increasing number of federal workers are also landing on the unemployment rolls, new data showed Thursday.
First-time applications for unemployment benefits rose more than expected last week, indicating that cracks may be forming in America’s long-solid labor market. And an increasing number of federal workers are also landing on the unemployment rolls, new data showed Thursday. There were an estimated 242,000 jobless claims filed last week, according to seasonally adjusted data released Thursday by the Department of Labor. That’s an increase of 22,000 from the prior week’s tally and a figure that landed well above economists’ expectations for 220,000 claims. Weekly jobless claims, a proxy for layoffs, are now at their highest level since early December, Labor Department data shows. This story is developing and will be updated.
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