The U.S. labor market is showing its most significant signs of strain in nearly four years, with the number of Americans continuing to draw unemployment benefits climbing to its highest point since November 2021.
Unemployment Numbers
According to the Department of Labor, continuing unemployment claims reached 1,972,000 during the week ended Aug. 9, up 30,000 from the prior week. That marks the highest level since the 2,041,000 recorded in November 2021.
The continued claims figure tracks Americans who have already filed an initial claim for jobless benefits, remained unemployed for at least a week and then filed again.
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