Reported about 1 year ago
The Labor Department reported a decrease in weekly jobless claims by 6,000 to 233,000 for the week ending June 22, with the total number of Americans collecting unemployment benefits rising to 1.84 million, the highest since November 2021. Despite the Federal Reserve's 11 rate hikes to curb inflation post-COVID-19, recent data shows a potential slowdown in the labor market and increased jobless benefit applications in June, indicating economic challenges.
Source: YAHOO