The number of Americans filing for unemployment benefits last week unexpectedly jumped to the highest level in 10 months, the latest sign that the labor market is starting to cool in the face of high interest rates.
Figures released Thursday by the Labor Department show initial claims for the week ending June 8 increased by 13,000 to 242,000, above the 2019 pre-pandemic average of 218,000 claims. It marks the highest level for jobless claims since August 2023.
Continuing claims, filed by Americans who are consecutively receiving unemployment benefits, also rose to 1.82 million for the week ended June 1, an increase of 30,000 from the previous week.
