Reported 2 days ago
The number of Americans applying for jobless benefits rose unexpectedly last week, with initial claims increasing by 17,000 to 242,000 for the week ending December 7, according to the Labor Department. This shift may reflect volatility following the Thanksgiving holiday, but it contributes to a broader trend of a slowing labor market, as evidenced by a rise in the unemployment rate to 4.2%. The high level of continued claims indicates that many laid-off workers are facing prolonged unemployment, signaling potential challenges ahead for the economy.
Source: YAHOO