Unemployment Continues to Rise Amid Economic Uncertainty

Unemployment , Continues to Rise , Amid Economic Uncertainty.

ABC News reports that the number of Americans applying for unemployment benefits remains relatively low, despite rising last week.

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On April 20, the Labor Department reported that jobless claims in the U.S. rose by 5,000 to reach 245,000.

On April 20, the Labor Department reported that jobless claims in the U.S. rose by 5,000 to reach 245,000.

At the beginning of 2023, weekly claims were at about 200,000 and have steadily been climbing higher.

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At the beginning of 2023, weekly claims were at about 200,000 and have steadily been climbing higher.

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As of the week ending April 8, 1.866 million Americans were collecting unemployment benefits, up from 1.53 million just one year earlier.

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ABC News reports that the U.S. job market remains healthy, with employers adding 236,000 jobs in March, which is strong by historic standards.

While the (claims) levels are still historically low, the number of people collecting unemployment benefits has definitely been on the rise this year, .., Stephen Stanley, chief U.S. economist at Santander, via ABC.

... another signal that the labor market, though still hot, is coming back toward a more balanced/normal state, Stephen Stanley, chief U.S. economist at Santander, via ABC.

The Federal Reserve is looking to secure a soft landing by lowering growth enough to control inflation but without triggering a recession.

The Federal Reserve is looking to secure a soft landing by lowering growth enough to control inflation but without triggering a recession.

ABC reports that economists remain skeptical on whether or not the Fed will be able to achieve the desired soft landing.

Many economists have predicted that the United States will officially enter into a recession later in 2023