U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher though still healthy level that the Federal Reserve has been aiming for.
Jobless claims for the week ending July 13 rose by 20,000 to 243,000 from 223,000 the previous week, the Labor Department reported Thursday. It’s the eighth straight week claims came in above 220,000. Before that stretch, claims had been below that number in all but three weeks so far in 2024.
Weekly unemployment claims are widely considered as representative of layoffs.
The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in an attempt to extinguish the four-decade high inflation that shook the economy after it rebounded from the COVID-19 recession of 2020. The Fed’s intention was to cool off a red-hot labor market and slow wage growth, which it says can fuel inflation.
i want to see the entirety of the lemmyverse flourish; that includes lemmy.world
switching my feed to primary instance that doesn’t defederate laid bare to me that there’s a stark fractionalization of the lemmyverse between it and .world that’s getting wider and using humor was my foolish attempt to let a newbie, like i was, know that collective leftism is at the heart of the lemmyverse and if you don’t like diet reddit there’s plenty of other flavors.
i honestly didn’t think i’d get much of any reaction beyond some up/down votes so “main character” and “other options” feedback are making me regret my approach