New employment data sent mixed signals about the health of the U.S. labor market, as more workers filed for unemployment benefits last week and employers slowed their planned layoffs in May.
According to the Department of Labor, initial jobless claims rose by 8,000, to 247,000, the highest level since early October 2024, for the week ended May 31. This is up from the previous week’s downwardly revised 239,000.
