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The number of Americans filing new claims for unemployment benefits increased more than expected last week, further evidence that labor market conditions were easing as higher borrowing costs dampen demand in the economy.
Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 239,000 for the week ended April 8, Labor Department data showed. Unadjusted claims increased 27,457 to 234,577 last week, with filings in California surging 11,388
The wait appears to be over. Unfortunately, the thing we've been waiting for is a recession, and there was ample evidence last week that it's coming.
The leisure and hospitality industry accounts for the bulk of the US employment gains, adding 72,000 jobs in March 2023
Are inflation pressures easing? Jobs report may offer clues | 2023-04-07 12:11:12