US Jobless Claims Rise, As Planned Layoffs Soar.<br />According to economic data released <br />July 7, weekly jobless claims in the <br />United States have edged higher. .<br />NBC reports that initial filings <br />for unemployment benefits reached <br />235,000 the week ending July 2.<br />That was a gain of 4,000 from <br />the previous period and higher <br />than the Dow Jones estimated.<br />The number of filings reached <br />its highest point since January.<br />According to NBC, it also raised <br />the four-week moving average to 232,500, <br />the highest since December 2021.<br />According to NBC, it also raised <br />the four-week moving average to 232,500, <br />the highest since December 2021.<br />Meanwhile, continuing claims rose <br />51,000 to reach 1.375 million, above <br />FactSet estimates of 1.337 million.<br />Challenger, Gray & Christmas reported <br />that planned layoffs skyrocketed to 32,517, <br />a 57% increase from the same period in 2021. .<br />According to the job placement firm, <br />the auto industry alone <br />announced 10,198 job cuts. .<br />That brings the yearly total <br />to 15,578, a 155% increase <br />from the same time in 2021.<br />Employers are beginning to respond <br />to financial pressures and slowing demand <br />by cutting costs. While the labor market <br />is still tight, that tightness may begin <br />to ease in the next few months, Andrew Challenger, Challenger, Gray & Christmas <br />senior vice president, via NBC.<br />Employers are beginning to respond <br />to financial pressures and slowing demand <br />by cutting costs. While the labor market <br />is still tight, that tightness may begin <br />to ease in the next few months, Andrew Challenger, Challenger, Gray & Christmas <br />senior vice president, via NBC
