249,000 initial unemployment claims filed in the US, marking the 10th consecutive week above 220,000.

The US witnessed the highest number of unemployment claims in a year, with 249,000 initial claims filed in the week ending July 27th, a 14,000 increase from the previous week. This marks the 10th consecutive week of claims above 220,000, and the unemployment rate has risen to 4.1% in June. Despite the labor market remaining relatively healthy amid high interest rates, jobless claims have been above 220,000 for the past ten weeks, significantly higher than earlier this year. However, weekly unemployment claims remain at historically healthy levels.

August 01, 2024
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