The number of Americans filing new jobless claims increased last week as the job market gradually weakens due to higher interest rates, which are cooling demand in the economy.
Initial jobless claims increased by 13,000 in the week ended April 29 to 242,000 seasonally adjusted. Economists polled by Reuters had forecast 240,000 inquiries for the past week.
Claims have stuck at the higher end of their range of 194,000 to 247,000 this year, reflecting a surge in mass layoffs as the lagged and cumulative effects of the Federal Reserve’s fastest rate-hiking campaign since the 2000s 80 take over. real estate market and the technology sector.
Source: Terra
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