232,000 Unemployment Claims Weekly in America

The number of Americans filing new claims for unemployment benefits rose more than expected last week, marking an additional sign that labor market conditions are loosening as higher borrowing costs dampen demand in the economy. The Labor Department stated on Thursday that initial claims increased by 11,000 to a seasonally adjusted level of 239,000 for the week ending April 8. Economists had projected 232,000 claims for this week. However, unemployment benefit claims remain below 270,000. Economists indicate that if claims exceed this number, it signals a deterioration in the labor market.