image credit: Pexels

US jobless claims filings highest since 2021, but job market remains healthy

May 11, 2023


The number of Americans filing for unemployment benefits last week rose to its highest level in a year-and-a-half, though jobs remain plentiful by historical standards even as companies cut costs as the economy slows.

Applications for jobless aid for the week ending May 6 rose by 22,000 to 264,000, the Labor Department said Thursday. That’s up from the previous week’s 242,000 and is the most since November of 2021. The weekly number of applications is seen as roughly representative of the number of U.S. layoffs.

Read More on Federal News Network