The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength.
A hiring sign is displayed at a restaurant in Schaumburg, Illinois, on April 1, 2022. More Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy.
Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five out of the last six weeks, the Labor Department reported Thursday.The four-week average for claims, which smooths out weekly ups and downs, rose by 4,500 to 252,000, also the highest since November. So far this year, hiring in the United States has been remarkably strong and resilient in the face of rising interest rates and weak economic growth.
The United States recovered with unexpected strength from 2020′s COVID-19 recession, leaving businesses scrambling to find enough workers.
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