The number of people applying for unemployment benefits in the U.S. has risen to its highest level since the end of 2021.

Jin10 Data reported on August 7 that the U.S. Department of Labor announced on Thursday that for the week ending July 26, the number of people continuing to claim unemployment benefits increased by 38,000 to 1.97 million, reaching the highest level since November 2021. This further indicates that the labor market is weakening, making it harder for unemployed individuals to find new jobs. Despite this, the number of new unemployment benefit applications this year has remained sluggish, suggesting that while companies are reducing their hiring, most are still retaining employees.

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