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May 10, 2024

Jobless claims rise in still-hot market

WASHINGTON (AP) — The number of Americans applying for unemployment benefits jumped to its highest level in more than eight months last week, another indication that the red hot U.S. labor market may be softening.

Unemployment claims for the week ending May 4 rose by 22,000 to 231,000, up from 209,000 the week before, the Labor Department reported Thursday. Though last week's claims were the most since the final week of August 2023, it's still a relatively low number of layoffs and not cause for concern.

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