Unemployment Claims See Biggest Jump in Seven Months Despite Strong Job Market

New claims for unemployment insurance rose sharply last week to their highest level since October 2021.
Although the labor market remains robust overall, the increase could signal that layoffs are starting to spread.
The rise in claims comes as several major tech companies have announced job cuts recently.
The latest figures arrive ahead of the Federal Reserve's next decision on interest rates and could influence their views on the economy.
Economists warn that the weekly data can be volatile, so further increases will be needed to confirm an upward trend.