Unemployment Claims Rise to 240,000

The number of Americans applying for unemployment benefits rose the highest level since August but still remain low by historic standards. 240 thousand people applied in last week alone, an increase over previous weeks’ numbers which went up 5500 to 226 750 applicants per month or about 1 out every 8 workers seeking jobs . The four-week moving average also increased slightly showing that more layoffs may occur soon despite worker’s security at this time because employers don’t need anyone right now with all their resources going towards keeping existing staff.

The economy is growing, but not fast enough for some. The Federal Reserve has raised interest rates six times since March and many economists expect America to enter a recession next year as higher borrowing costs slow economic activity down even more so than it already had been before – on track with record breaking levels set back in 2018 when unemployment reached historic lows! But there’s one thing that continues >to beat all others: job creation— employers have added 261k jobs just last month alone.  New applications dropped again this week reaching only 200 thousand according to data from APIarks Employment Service Department

The number of people collecting unemployment benefits took a dip early in the year, but has been on an upswing since late spring. As summer draws to a close we’re seeing more new applications for weekly compensation certificate systems at around 261 thousand per week!