Job market stays strong despite surge in jobless claims
- Applications for unemployment benefits fell to 239,000 last week despite an increase over the past three weeks.
- The economy grew at an annual rate of 2% in the first quarter, higher than previously estimated.
- Employers added 339,000 jobs last month, surpassing expectations.
- The economy remains strong despite interest rate hikes by the Federal Reserve.
- Some sectors like tech, manufacturing and real estate have seen major layoffs recently.