The Labor Department on Thursday released new data on jobless claims, revealing that the labor market is beginning to cool as the Federal Reserve raises interest rates.
Former Reagan economist Art Laffer argues the risks of a 'real bad downturn' are 'diminishing quite substantially' after Manchin upends talks on Build Back Better.last week rose to the highest level in eight months, the latest sign that the historically tight labor market is starting to cool.
Figures released Thursday by the Labor Department show that applications for the week ended July 16 rose to 251,000 from the 24,000 recorded a week earlier, easily beating the 200,000 forecast by Refinitiv analysts. It marked the highest level for jobless claims since mid-November.
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