By Sarah Chaney CambonWorker filings for unemployment benefits rose last week to the highest level since 2021, a sign the hot labor market is cooling off. Initial jobless claims, a proxy for layoffs, increased by 22,000 to a seasonally adjusted 264,000 last week, the Labor Department said Thursday. The four-week average of weekly claims, which smooths out volatility, increased by 6,000 to 245,250. Still, the labor market remains strong. Employers added 253,000 jobs in April, the best gain since January, the Labor Department said last week.

Source: Wall Street Journal May 11, 2023 13:04 UTC