According to a report released by the Labor Department on Thursday, new applications for unemployment benefits hit an 8-month high last week, though overall jobless claims remain low.
A person is looking at a board.
The number of people applying for unemployment benefits for the week ending July 9 increased by 9000 from the previous week.
For the second week in a row, the claims increased.
The week ending July 2 saw the biggest decline in continuing claims since April.
The number of Americans applying for unemployment benefits is still low, despite the increase in new claims.
372,000 is the total number of people. The unemployment rate remained at 3.6% in June for the fourth month in a row, but the Labor Department reported last week that employers added more jobs in June than in any other month this year.
The report comes after the Labor Department said inflation hit a 40-year high of 9.1% in the 12 months ending in June, fueled by surging gasoline, shelter and food prices. The Labor Department said on Thursday that wholesale inflation increased 11.3% from a year ago. The Federal Reserve raised interest rates by half a point in May and three quarters in June. The labor market is tight, but some companies have announced layoffs recently.
Unemployment claims hit an 8-month high in the U.S.
Wholesale prices went up by a record 11.3% in June.
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