NEW YORK (AP) – Fewer Americans applied for jobless benefits last week after a previous spike that some took as a sign that higher interest rates were finally cooling the labor market.
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Applications for jobless claims for the week ending May 6 fell by 22,000 to 242,000, from 264,000 the week before, the Labor Department reported Thursday. The weekly claims numbers are broadly as representative of the number of U.S. layoffs.
The four-week moving average of claims, which flattens some of the week-to-week fluctuations, ticked down by 1,000 to 244,250. Analysts have pointed to a sustained increase in the four-week averages as a sign that layoffs are accelerating, but are reluctant to predict that a spike in layoffs is imminent.
Overall, 1.8 million people were collecting unemployment benefits the week that ended April 29, about 8,000 fewer than the previous week.
Since the pandemic purge of millions of jobs three years ago, the U.S. economy has added jobs at a breakneck pace and Americans have enjoyed unusual job security. That’s despite interest rates that have been rising for more than a year and fears of a looming recession.
So interesting that out of all the industries and professions out there, the AP chose to pick a photo of a cemetery, ( and VIN decided to share that). Maybe hiring is takeh dead?
less people are looking for work so therefore unemployed people are not technically unemployed, this is welfare
How about banking and tech? This is where the American promise is. This where education is supposed to offer more job security etc. How’s their job market going? You think Americans want to work as baristas in starbucks or cashiers at DD?
the percentage of unemployed yafffed trolls collecting jobless benefits remains at 100.