New US weekly jobless claims rose by 19,000 last week, at the highest level in 7 weeks.
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New US jobless claims rose by 19,000 last week
Official data showed, Thursday, that new applications for weekly US unemployment benefits rose by 19 thousand applications during the past week, the highest level in 7 weeks.
And the US Department of Labor announced, in a statement, that 200,000 Americans applied for unemployment benefits in the week ending April 30, compared to 181,000 in the revised reading for the previous week.
Unemployment claims came during the last week, higher than analysts’ expectations of their stability, while claims are at the highest level since the week ending March 12, 2022, and the rise in unemployment claims reflects pressures on the labor market due to high levels of inflation and an increase in energy prices to record levels due to The Russo-Ukrainian War.
It is widely believed that the number of Americans who lose their jobs, permanently or temporarily, is much higher than official data.
The unemployment benefits index measures the change in the number of applicants for unemployment benefits for the first time during the past week, and its data is collected on a weekly basis.