Jobs
US Jobless Claims Rise Most in Six Weeks, Continuing Claims Fall
- At same time, recurring applications fell by most since July
- Separate report shows four-fold increase in job cuts this year
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Applications for US unemployment benefits rose by the most in six weeks while continuing claims fell, flagging some softening in a labor market that remains relatively resilient.
Initial unemployment claims rose by 13,000 to 242,000 in the week ended April 29, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists was for 240,000 applications.