Topline
Applications for unemployment benefits in the U.S. accelerated last week by the most in five years, according to weekly data released Thursday by the Labor Department, which previously reported a three-year low amid persisting concerns about the job market.
Key Facts
Unemployment benefits applications totaled 236,000 last week, the Labor Department reported, an increase of 44,000 from the revised-up total of 192,000 for the previous week and well above Wall Street’s estimates of 213,000, according to FactSet.
An additional 44,000 applications is the largest single-week jump since March 2020, while the previous week’s total was the lowest since March 2023.
This is a developing story.
