Jobs
Initial Jobless Claims in US Increase by Most Since Early May
- New applications rose by 20,000 last week to 243,000
- Continuing jobless claims climbed to highest since late 2021
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Initial applications for US unemployment benefits rose last week by the most since early May and continuing claims jumped, adding to evidence of a softening labor market.
Initial claims increased by 20,000 to 243,000 in the week ended July 13, matching the highest level since August 2023, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 229,000 applications.