U.S. jobless claims exceed expectations, further evidence of weakening labor market

BlockBeats reported that on July 18, the number of initial unemployment claims in the United States last week hit the largest increase since early May, and the number of continuing claims rose sharply, further proving that the labor market is weakening. In the week ending July 6, the number of continuing unemployment claims increased by 20,000 to 1.87 million, the highest level since November 2021. At this stage of the year, the number of people applying for unemployment benefits fluctuates greatly from week to week, which may be due to holidays such as Independence Day and school summer closures. (Jinshi)