Labor Market Going Strong, As Fewer Americans , Apply For Unemployment.<br />Last week, fewer Americans filed for unemployment <br />benefits, bringing the total for the week down <br />22,000 from the week before to reach 242,000.<br />ABC reports that the number of weekly claims<br />largely represent the number of U.S. layoffs.<br />According to the latest Labor Department <br />data, the four-week moving average of <br />claims also dropped by 1,000 to reach 244,250.<br />According to the latest Labor Department <br />data, the four-week moving average of <br />claims also dropped by 1,000 to reach 244,250.<br />The week ending April 29, approximately 1.8 million <br />people were collecting unemployment benefits, <br />down by about 8,000 from the week before.<br />ABC reports that the U.S. job market has quickly <br />added jobs since the pandemic forced millions <br />of people to lose their employment three years ago.<br />ABC reports that the U.S. job market has quickly <br />added jobs since the pandemic forced millions <br />of people to lose their employment three years ago.<br />Despite rising interest rates amid fears <br />of a recession, the addition of new jobs has <br />resulted in increased job security for Americans.<br />In April, the market saw 253,000 new jobs <br />added, while the unemployment rate fell <br />to 3.4%, reaching a 54-year low.<br />Despite the promising numbers, a number <br />of high-profile layoffs have taken a toll, <br />particularly in technology industries.<br />In recent months, IBM, Microsoft <br />and Twitter are among huge tech companies <br />to announce significant layoffs.<br />In recent months, IBM, Microsoft <br />and Twitter are among huge tech companies <br />to announce significant layoffs.<br />Since November, both Amazon <br />and Facebook have announced <br />two upcoming waves of job cuts. .<br />Since November, both Amazon <br />and Facebook have announced <br />two upcoming waves of job cuts. .<br />ABC reports that other major companies outside <br />of the tech sector have also announced layoffs, <br />including McDonalds, Morgan Stanley and 3M.<br />ABC reports that other major companies outside <br />of the tech sector have also announced layoffs, <br />including McDonalds, Morgan Stanley and 3M.<br />ABC reports that other major companies outside <br />of the tech sector have also announced layoffs, <br />including McDonalds, Morgan Stanley and 3M
