US initial jobless claims rise to one-year high as hiring slows

By Jarrell Dillard
Published 3 Min Read

Bloomberg Mercury

Initial applications for U.S. unemployment benefits jumped to the highest level in almost a year, adding to evidence that the labor market is slowing.

Initial claims increased by 14,000 to 249,000 in the week ended July 27, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 236,000 applications. Michigan and Missouri were among states with large gains.

Jarrell Dillard

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