Fewer people applied for unemployment benefits last week, but the total number of Americans collecting jobless benefits rose to the highest level in more than two years. The Labor Department reported that jobless claims fell to 233,000, although the total number of Americans collecting unemployment benefits climbed to 1.84 million, the most since November of 2021. The four-week average of claims also increased to 236,000. Despite remaining at historically low levels, weekly claims have shown recent upward movement, signaling a shift in job market dynamics.
Weekly Jobless Claims Drop, Total Collecting Benefits Hits 2-Year High
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