Initial and continuing jobless claims are continuing to rise with initial claims at 243,000 (+20,000 in one week) and continuing jobless claims at their highest level since 2021.
— Wealthion (@wealthion) July 18, 2024
Continuing jobless claims increased to almost 1.9 million today, the highest since late 2021#MacroEdge
— MacroEdge (@MacroEdgeRes) July 18, 2024
⚠️Breaking! 🇺🇸 U.S. continuing jobless claims rose to 1.867M, higher than the expected 1.855M. This marks the highest level since 2021 November. 📈#MM pic.twitter.com/QAMpPeqyrS
— MacroMicro (@MacroMicroMe) July 18, 2024
Amdocs is laying off 1,500 to 3,000 employees in latest round of job cuts
Penn Entertainment will lay off hundreds of employees
Cargill to lay off hundreds of technology employees #MacroEdge
— MacroEdge (@MacroEdgeRes) July 18, 2024
More Americans apply for jobless benefits as layoffs settle at higher levels in recent weeks
If the US economy is strong, why are so many Americans struggling? Inflation, debt and rising costs are overshadowing low unemployment and a strong GDP.The Associated Press
U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher though still healthy level that the Federal Reserve has been aiming for.Jobless claims for the week ending July 13 rose by 20,000 to 243,000 from 223,000 the previous week, the Labor Department reported Thursday. It’s the eighth straight week claims came in above 220,000. Before that stretch, claims had been below that number in all but three weeks so far in 2024.
Weekly unemployment claims are widely considered as representative of layoffs.