TechFlow, Aug. 21 — According to Jinshi Data, initial jobless claims in the U.S. rose by the most in nearly three months last week, indicating layoffs may be increasing and further intensifying signs of a weakening labor market. The Labor Department said on Thursday that seasonally adjusted initial claims increased by 11,000 to 235,000 for the week ending August 16—the largest rise since late May. As businesses respond to Trump's protectionist trade policies, the labor market has entered a phase of "low layoffs and weak hiring." Earlier this month, government data showed that employment grew by an average of only 35,000 jobs per month over the past three months. Domestic demand growth in the second quarter slowed to its weakest pace since the fourth quarter of 2022. The report also showed that continuing claims rose by 30,000 to 1.972 million for the week ending August 9, the highest level since November 2021.
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