U.S. Jobless Claims Hit 11-Month High Amid Labor Market Volatility The number of Americans filing new unemployment claims rose to 249,000 for the week ending July 27, the highest in 11 months, indicating potential softening in the labor market. This increase, partly attributed to temporary motor vehicle plant shutdowns and disruptions from Hurricane Beryl, surpassed economists’ expectations of 236,000 claims. Despite this rise, layoffs remain generally low, with the June layoffs rate at its lowest in over two years. A separate report showed a significant drop in planned job cuts by U.S. companies in July, though hiring plans have reached their lowest year-to-date total since 2012. Federal Reserve Chair Jerome Powell noted that these labor market changes are being closely monitored to determine if they indicate a broader trend. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts U.S. GDP Growth Slows to 1.3% in Q1 Amid Weaker Consumer Spending READ MORE Inflation Erodes Trust in Major Consumer Brands READ MORE Powell Says Recent Inflation Numbers Haven’t ‘Really Changed the Overall Story’ READ MORE Inflation Cools, But Debt Troubles Persist for Lower-Income Americans READ MORE SAXO Bank: Gold is Ready to Rise READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment