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The number of Americans filing for jobless benefits last week hits 263,000, most in nearly 4 years
U.S. jobless claim applications jumped to their highest level in almost four years last week, the latest sign that the labor market is softening. The number of Americans filing for unemployment benefits for the week ending Sept. 6 rose 27,000 to 263,000, the Labor Department reported Thursday...
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- The Labor Department announced that jobless claims increased by 27,000 to 263,000 for the week ending September 6, marking the highest level recorded since October 2021.
- This increase followed broader economic weakening in 2025, including slower job growth and uncertainty from tariffs that prompted companies to reduce expansion plans.
- Data indicated that the four-week average of jobless claims increased by 9,750, reaching 240,500, while job creation in August totaled just 22,000 positions, significantly missing economists' expectations.
- Economist Carl Weinberg said markets will see the uptick as a 'pop in layoffs,' while Andrew Stettner called this one of the clearest signs of a downshift in job growth.
- The increase in unemployment claims and softer labor market conditions suggest the Federal Reserve may reduce interest rates in the near future to help support the economy