US Weekly Jobless Claims Reach Highest Since August 2023
Published on May 10, 2024
The number of Americans filing new claims for unemployment benefits reached its highest level since August 2023 last week, according to data published by the Bureau of Labor Statistics on May 9. First-time applications for unemployment benefits for the week ending May 4 soared by 22,000 to 231,000—up from 209,000 the week prior—according to the data, marking the highest level in eight months. The last time the number of applications reached that figure was the week ending Aug. 26, 2023, when 234,000 Americans filed for unemployment. The four-week moving average of claims, which smooths out some of the weekly volatility, increased by 4,750 to 215,000, marking the highest level since February, according to the data....