More Americans applied for unemployment benefits last week and while layoffs remain low, it was the fifth consecutive week that claims topped the 230,000 mark and the most in almost six months.
WASHINGTON —
The four-week average for claims, which evens out some of the week-to-week volatility, inched up by 750 from the previous week, to 232,500. On Wednesday, the Labor Department reported that U.S. employers advertised fewer jobs in May 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. There are nearly two job openings for every unemployed person.
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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