financetom
Economy
financetom
/
Economy
/
US weekly jobless claims increase as labor market softens
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US weekly jobless claims increase as labor market softens
Sep 11, 2025 5:54 AM

WASHINGTON (Reuters) -The number of Americans filing new applications for jobless benefits increased sharply last week, consistent with a material softening in labor market conditions.

Initial claims for state unemployment benefits jumped 27,000 to a seasonally adjusted 263,000 for the week ended September 6, the Labor Department said on Thursday. Economists polled by Reuters had forecast 235,000 claims for the latest week.

The government said this week that nonfarm payrolls could have been overstated by 911,000 jobs in the 12 months through March. That followed the release last Friday of the monthly employment report, which showed job growth almost stalled in August and the economy shed jobs in June for the first time in four and a half years amid tariff uncertainty.

A survey from the New York Federal Reserve on Monday showed consumers' confidence of finding a job in August was the lowest since June 2013. The Federal Reserve is expected to cut interest rates at its policy meeting next Wednesday, with a quarter-percentage-point reduction fully priced in. The Fed paused its easing cycle in January because of uncertainty over the inflationary impact of tariffs.

The number of people receiving benefits after an initial week of aid were unchanged at 1.939 million during the week ending August 30, the claims report showed.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Options Corner: Redfin's Value Compression Sets The Stage For A Bullish Bounce Back
Options Corner: Redfin's Value Compression Sets The Stage For A Bullish Bounce Back
May 26, 2025
It's no secret that real estate brokerage and mortgage origination service provider Redfin Corp ( RDFN ) is struggling. Although its year-to-date performance is impressive, RDFN stock is down 66% in the trailing five years. The equity is also a fraction of its February 2021 peak — a victim of soaring inflation, high interest rates and now, broader economic uncertainty....
May Philadelphia Fed Regional Nonmanufacturing Activity Index Indicates Slower Contraction
May Philadelphia Fed Regional Nonmanufacturing Activity Index Indicates Slower Contraction
May 26, 2025
08:40 AM EDT, 05/20/2025 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose slightly to minus 41.9 in May from minus 42.7 in the previous month. The index still suggests contraction in the sector, which is in line with the New York Federal Reserve's services measure released on May 16. The reading for sales increased but...
US Dollar Falls Early Tuesday Ahead of Philadelphia Fed Nonmanufacturing Index, Redbook, Fed Appearances
US Dollar Falls Early Tuesday Ahead of Philadelphia Fed Nonmanufacturing Index, Redbook, Fed Appearances
May 26, 2025
08:00 AM EDT, 05/20/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday, when appearances by Federal Reserve officials again populate the calendar. The Philadelphia Fed is expected to release its nonmanufacturing reading for May at 8:30 am ET, followed by weekly Redbook same-store sales at 8:55 am ET. Richmond Fed President Tom Barkin is...
Thailand says wants fair trading relationship with U.S
Thailand says wants fair trading relationship with U.S
May 26, 2025
BANGKOK (Reuters) -Thailand is committed to creating a fair relationship in trade and investment with the United States, the finance minister said on Tuesday as the Southeast Asian nation seeks talks with Washington to head off threatened tariffs. Thailand faces a 36% U.S. tariff if a reduction can't be negotiated before a moratorium expires in July. The U.S. has set...
Copyright 2023-2026 - www.financetom.com All Rights Reserved