Initial US jobless claims rose in the week ending May 4th.

Initial US jobless claims rose to 231,000 in the week ending May 4th, marking the highest level since August 2022, and a sign of potential softening in the labor market. The four-week moving average of claims also increased to 215,000. This follows the Federal Reserve's 525 basis points worth of interest rate hikes since March 2022, and the economy adding the fewest jobs in six months in April.

May 09, 2024
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