Applications for US unemployment benefits jumped last week to the highest level since October 2021, suggesting mounting layoff announcements are starting to translate into job cuts.
Initial jobless claims rose by 28,000 to 261,000 in the week ended June 3, a Labor Department report showed Thursday. The median forecast in a Bloomberg survey of economists called for 235,000 applications.
Continuing claims, which include people who have received unemployment benefits for a week or more and are a good indicator of how hard it is for people to find work after losing their jobs, fell to 1.76 million in the week ended May 27.
Source : Bloomberg
