The number of Americans filing new claims for unemployment benefits rose to its highest level since late 2021. The Department of Labor noted today, Thursday, a first-time increase in new claims by 22,000, reaching a seasonally adjusted level of 264,000 for the week ending May 6, the highest reading since October 2021. A significant increase in the number of claims is expected in the second half of the year as the cumulative effects of the Federal Reserve's interest rate hikes expand within the economy.
Title: Notable Increase in US Unemployment Benefit Claims
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