5 Minutes Read
Number of Americans applying for jobless claims remains historically low
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
The Labor Department reported Thursday (May 2) that unemployment claims for the week ending April 27 were 208,000, the same as the previous week.
The number of Americans applying for unemployment benefits was unchanged last week and remains historically low as the labour market continues to show resiliency in the face of high interest rates and elevated inflation.
The Labor Department reported Thursday (May 2) that unemployment claims for the week ending April 27 were 208,000, the same as the previous week. That’s the fewest since mid-February. The four-week average of claims, which softens some of the weekly volatility, fell by 3,500 to 210,000.
Also Read: US Federal Reserve holds steady on interest rates, signals potential future cuts
Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.
In total, 1.77 million Americans were collecting jobless benefits during the week that ended April 20. That’s also the same as the previous week.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
