Washington-Sana
The number of Americans filing new claims for unemployment benefits last week rose more than expected, indicating a slowing labor market.
Reuters quoted the US Department of Labor as saying: The applications submitted for the first time for government benefits increased by six thousand to reach 260 thousand in the week ending on the 30th of last July.
Claims exceeded the level of 23 thousand at the beginning of June, and reached the highest level in eight months at 261 thousand in mid-July.
Since the beginning of this year, employers have announced the layoffs of about 159,021 workers, down 31.3 percent compared to the same period last year, and the lowest rate between January and July since 1993.
This year's layoffs have been concentrated in the automotive, technology and financial sectors.
The lack of chips has hampered the auto industry, while layoffs in the technology and financial sectors reflect sluggish demand due to rising interest rates.
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