The number of initial jobless claims in the United States rose sharply last week, reaching the highest level in nearly four years, indicating that layoffs may be on the rise amid a marked slowdown in hiring.
Bloomberg reported that the US Department of Labor released the latest data on Thursday (September 11), showing that the number of initial jobless claims rose by 27,000 to 263,000 in the week ending September 6, the highest level since October 2021.
Data shows that the increase mainly came from Texas, where the number of initial hires soared by 15,304 before the seasonal adjustment. Michigan ranked second with an increase of 2,980 people, while most states saw a decline.
Meanwhile, as of the week ending August 30, the number of people still receiving unemployment benefits remained unchanged at 1.94 million.
The day before this data was released (on the 5th), the US monthly employment report showed that only 22,000 new jobs were added in August, and employment growth has slowed sharply for several consecutive months. Analysis indicates that the uncertainty regarding President Trump's economic policies has made employers more cautious when recruiting.
In early December, US stocks staged their most dramatic intraday reversal in months. Driven by the dual positive catalysts of chip giant NVIDIA's better-than-expected earnings report and a "Goldilocks" nonfarm payrolls report, the S&P 500 index surged as much as 1.9% within the first hour of trading.
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