The number of Americans filing initial jobless claims rose to a six-month high last week, government data show, while a separate report showed that the number of job cuts jumped 57 percent month-over-month in June, suggesting demand for labor is cooling.
Initial filings for state unemployment benefits increased by 4,000 to a seasonally adjusted 235,000 for the week ended July 2, the Labor Department said in a July 7 report (pdf). That’s the highest level of initial claims since mid-January, while pushing the four-week moving average up to 232,500, the highest since early December 2021.
