Jobless Claims Reach 2-Year High, Signaling Cooling Labor Market
TL;DR Summary
Initial jobless claims in the US rose by 7,000 to 218,000 in the latest week, reaching the highest level in two years. The number of people already collecting jobless benefits also increased by 86,000 to 1.927 million, indicating a softer labor market and making it harder for laid-off workers to find new jobs. Economists caution that the holiday season can cause volatility in jobless claims data. The rise in continuing claims aligns with the Federal Reserve's Beige Book survey, which described a slightly weaker US economy.
- Jobless claims tick higher, continuing claims highest in two years MarketWatch
- US Continued Jobless Claims Rise in Sign of Cooling Labor Market Bloomberg
- Applications for jobless benefits up modestly, but continuing claims reach highest level in 2 years The Killeen Daily Herald
- US Weekly Jobless Claims: 218K SHRM
- Gold prices steady after U.S. weekly jobless claims rise to 218K Kitco NEWS
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
0 min
vs 1 min read
Condensed
53%
182 → 86 words
Want the full story? Read the original article
Read on MarketWatch