US Jobless Claims Rise for Second Week Despite Strong Jobs Market

US jobless claims remain high, indicating the impact of Federal Reserve's interest rate hikes.
Claims for the past two weeks are the highest since October 2021.
The four-week moving average of claims rose to the highest level since November 2021.
Despite the rate hikes, the labor market has remained strong, with employers adding 339,000 jobs last month.
However, there have been high-profile layoffs in the technology sector and other industries.