This is the highest level since Feb. 13, 2021 when it was 242,000.
The total number of Americans receiving some form of unemployment benefits rose to 2.43 million in the week ended March 25, up from 2.41 million the prior week, according to the Labor Department.
The US Department of Labor released data today showing that initial jobless claims rose by 11,000 during the week ending April 8th, bringing the total to 239,000 – the highest level since January 15th, 2022. The Associated Press (AP) reported that the job market appears to be softening more than a year after the Federal Reserve began raising rates to tackle inflation.
Additionally, the four-week moving average of initial claims increased 2,250 to 240,000, the highest since February 13th, 2021 when it was 242,000.
The figures also show that the number of Americans receiving unemployment benefits rose to 2.43 million for the week ending March 25th. This was up from the 2.41 million figure in the previous week.
Overall, these figures suggest that the job market is weakening, and that the number of people claiming jobless benefits is on the rise.