U.S. first-time unemployment claims rise to six-week high
The numbers: The number of people who applied for jobless benefits in early August climbed to a six-week high of 220,000, though the level of layoffs remains near a postrecession low.
What happened: Raw or unadjusted jobless claims surged by almost 6,000 in California, but were they were little changed in every other state. The number of people in the U.S. already collecting unemployment benefits, known as continuing claims, increased by 39,000 to 1.73 million. That’s the highest level since March.Big picture: The economy is not growing as fast as it was last year and businesses are anxious about the festering trade dispute with China, but very companies have resorted to widespread layoffs.
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