More Americans applied for unemployment benefits last week, and while layoffs remain low, it’s the fifth straight week claims have topped 230,000. Applications for jobless aid for the week ending July 2 rose to 235,000, up 4,000 from a week earlier.
Applications for jobless aid for the week ending July 2 rose to 235,000, up 4,000 from the previous week and the most since mid-January, the Labor Department reported Thursday. First-time applications generally track with the number of layoffs. Until early June, claims hadn’t eclipsed 220,000 since January and have often been below 200,000 this year.
The total number of Americans collecting jobless benefits for the week ending June 25 rose by 51,000 from the previous week, to 1,375,000. That figure has hovered near 50-year lows for months.amid signs that the economy is weakening, though the overall demand for workers remained strong.Employers posted 11.3 million job openings at the end of May, down from nearly 11.7 million in April. Job openings reached 11.9 million in March, the highest level on records dating back more than 20 years.
The Labor Department releases its May jobs report on Friday and analysts expect that employers filled more than 276,000 jobs. Though not an unhealthy number, it would be the lowest monthly figure in more than a year.The CEO of electric car maker Tesla, Elon Musk, acknowledged that the company was cutting about 10% of its salaried workforce, or 3.5% of its total headcount.
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