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US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February
Claims rose to 225,000 as employers stayed cautious and hiring remained weak amid higher costs and economic uncertainty, Labor Department data showed.
- The Labor Department reported Thursday that weekly jobless claims for Americans increased by 13,000 to 225,000, marking the highest level in four months.
- Instability in the Middle East and the war in Iran continue to drive economic uncertainty, with gas prices spiking about 50% to $4.24 since late February.
- Despite historically low layoffs, the labor market remains in what economists call a "low-hire, low-fire" state, with hiring slowing since President Donald Trump's tariff rollouts two years ago.
- Inflation remains above The Federal Reserve's 2% target, prompting policymakers to consider rate hikes this year instead of cuts to address elevated price pressures.
- Analysts await the government's May jobs report on Friday to gauge market health, as companies including Amazon, UPS, and Walmart have cut jobs recently.
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US jobless aid filings, a proxy for layoffs, rise to 225,000 last week but remain historically low
Jobless aid applications increased by 13,000 to 225,000 last week, exceeding forecasts but remaining historically low. This figure serves as a key indicator of U.S. layoffs amid economic uncertainty. Meanwhile, the total number of Americans receiving unemployment benefits saw a slight decrease.
·India
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U.S. jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February
The number of Americans filing for jobless aid hit their highest level in four months last week, but layoffs remain historically low despite ongoing economic uncertainty brought on by the war in Iran.
·Johnstown, United States
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Associated Press News+4 Reposted by 4 other sources
US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February
The number of Americans filing for jobless aid hit their highest level in four months last week, but layoffs remain historically low despite ongoing economic uncertainty brought on by the war in Iran.
·New York, United States
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Total News Sources15
Leaning Left3Leaning Right4Center3Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 30%
C 30%
R 40%
Factuality
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