Jobless claims surge: Initial claims hit 243,000, continuing claims reach 1.867M, highest since 2021.

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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.

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