Number of US Workers on Unemployment Rises to Highest Level in Over 2 Years

Published on July 3, 2024

The number of Americans on unemployment rolls has risen for the ninth straight week, according to data released Wednesday by the Department of Labor, in the latest signal that the labor market is weakening. The total number of Americans collecting unemployment benefits—known as continuing claims—rose to 1.86 million for the week of June 22. That’s the highest level since November 2021. Initial jobless claims, widely seen as a proxy for layoffs, increased from 234,000 to 238,000, according to data from the Labor Department. While that’s relatively low by historical standards, initial unemployment filings have been rising steadily recently after mostly remaining below 220,000 this year....

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