Friday, 11 Jul 2025
America Age
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Font ResizerAa
America AgeAmerica Age
Search
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 America Age. All Rights Reserved.
America Age > Blog > World > More Americans apply for jobless benefits last week
World

More Americans apply for jobless benefits last week

Enspirers | Editorial Board
Share
More Americans apply for jobless benefits last week
SHARE

WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment remains at a five-decade low.

Applications for unemployment benefits rose by 27,000 to 229,000 for the week ending June 4, the most since mid-January, the Labor Department reported Thursday. First-time applications generally track the number of layoffs.

The four-week average for claims, which evens out some of the weekly volatility, rose by 8,000 from the previous week to 215,000.

The total number of Americans collecting jobless benefits for the week ending May 28 remained unchanged from the previous week at 1,306,000, the fewest since Jan. 10, 1970.

American workers are enjoying historically strong job security two years after the coronavirus pandemic plunged the economy into a short but devastating recession. Weekly applications for unemployment aid have been consistently below the pre-pandemic level of 225,000 for most of 2022, even as the overall economy contracted in the first quarter and concerns over inflation persist.

Last week, the government reported that U.S. employers added 390,000 jobs in May, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and rising interest rates.

Last month’s gain reflects a resilient job market that has so far shrugged off concerns that the economy will weaken in the coming months as the Federal Reserve steadily raises interest rates to fight inflation. The unemployment rate remained 3.6%, just above a half-century low.

The job growth in May, though healthy, was the lowest monthly gain in a year. But it was high enough to keep the Fed on track to pursue what’s likely to be the fastest series of rate hikes in more than 30 years.

Inflation at the consumer level eased slightly in April after months of relentless increases but remained near a four-decade high. Consumer prices jumped 8.3% last month from a year ago, just below the 8.5% year-over-year surge in March, which was the highest since 1981.

Earlier in May, the Federal Reserve intensified its fight against inflation by raising its benchmark short-term interest rate by a half-percentage point, signaling further large rate hikes to come.

The Fed meets again next week.

Share This Article
Twitter Email Copy Link Print
Previous Article ‘Jurassic World Dominion’ Review: Extinction Rebellion ‘Jurassic World Dominion’ Review: Extinction Rebellion
Next Article UN warns of food catastrophe UN warns of food catastrophe

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
TwitterFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

GOP-Friendly House Race Becomes Nail-Biter on Abortion Issue

(Bloomberg) -- In any other election year, two Navy veterans vying to represent a Virginia…

By Enspirers | Editorial Board

Bachelor Alum Demi Burnett Says She’s Been Diagnosed with Autism: ‘Be Open Minded and Accepting’

demi burnettgetty Demi Burnett says she has been diagnosed with autism.The Bachelor alum, 27, made…

By Enspirers | Editorial Board

John Travolta’s 11-year-old son Ben adopts dog from Betty White Oscars tribute

John Travolta and his son Benjamin have adopted a dog — one that had a…

By Enspirers | Editorial Board

Colombia picks 1st leftist president in tight runoff contest

BOGOTA, Colombia (AP) — Colombia will be governed by a leftist president for the first…

By Enspirers | Editorial Board

You Might Also Like

Barnaby Joyce vows to wind again ‘lunatic crusade’ of web zero with non-public member’s invoice
World

Barnaby Joyce vows to wind again ‘lunatic crusade’ of web zero with non-public member’s invoice

By Enspirers | Editorial Board
Unite votes to droop Angela Rayner membership over Birmingham bin strikes
World

Unite votes to droop Angela Rayner membership over Birmingham bin strikes

By Enspirers | Editorial Board
Trump heads to Texas every week after devastating floods – US politics dwell
World

Trump heads to Texas every week after devastating floods – US politics dwell

By Enspirers | Editorial Board
5 reported useless in Gaza after Israeli strike on faculty sheltering displaced individuals – Center East disaster dwell
World

5 reported useless in Gaza after Israeli strike on faculty sheltering displaced individuals – Center East disaster dwell

By Enspirers | Editorial Board
America Age
Facebook Twitter Youtube

About US


America Age: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company
  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement
Contact Us
  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability
Terms of Use
  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© 2024 America Age. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?