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U.S. weekly jobless near five-month high; labor market still very tight

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Reuters

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased to the highest level in nearly five months last week, but that likely does not mark a material shift in labor market conditions, which remain extremely tight. The report from the Labor Department on Thursday also showed unemployment rolls remained at a more than 52-year low at the end of May, underscoring the jobs market’s strength. Amid reports of companies freezing hiring or contemplating layoffs in anticipation of a recession next year, the weekly jobless claims data is bei…

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