US Jobless Claims Hit 10-Month High, Raising Economic Concerns

Unemployment benefit applications surged to 242,000 last week, the highest since August 2023, indicating potential labor market softening.

Initial jobless claims increased by 13,000 to 242,000 for the week ending June 8.
Continuing claims rose by 30,000 to 1.82 million, suggesting difficulties in finding new jobs.
Economists are monitoring these figures as a potential signal of broader economic slowdown.
The Federal Reserve may consider these trends in future interest rate decisions.
Despite recent job gains, the unemployment rate has edged up to 4%.