Jobless claims rise again to highest level since November ...Middle East

New applications for unemployment benefits rose slightly in the first month of August to the highest level since November, according to Labor Department data released Thursday. Jobless claims totaled 262,000 in the week ending Aug. 6, up 14,000 from the previous week’s revised total. Claims continue to hover around pre-pandemic levels, but they’ve risen in five out of the last six weeks. The four-week average of claims rose 4,500 to 252,000, according to the report. Economists are closely monitoring jobless claims to gauge whether interest rate hikes are causing businesses to cut back on jobs, an indicator of an economic slowdown. The Federal Reserve has raised rates by 2.25 per

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Last updated : 11 August 2022 clock 04:25 PM

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Jobless claims rise again to highest level since November ...Middle East

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