US applications for unemployment benefits tick up slightly as labor market remains healthy
The number of Americans filing for unemployment benefits rose slightly last week but remains at healthy levels that continue to show a strong U.S. labor market The number of Americans filing for unemployment benefits rose slightly last week but remains at healthy levels that continue to show a strong U.S. labor market. U.S. applications for jobless claims were 232,000 for the week ending May 27, an increase of just 2,000 from the previous week. The weekly claims numbers are considered representative of the number of U.S. layoffs. The four-week moving average of claims, which flattens out some of the week-to-week volatility, fell by 2,500 to 229,500. Since the pandemic purge of more than 20 million jobs three years ago, the U.S. economy has added jobs at a furious rate and Americans have enjoyed unusual job security. That’s despite interest rates that have been rising for more than a year and fears of a looming recession. In early May, the Fed raised its benchmark lending rate for the ...