According to a CBS report on the 8th, the number of applications for unemployment benefits in the United States surged to 261,000 last week, reaching a 21-month high since October 2021. This shows that many companies have implemented large-scale layoff plans.
The U.S. Department of Labor reported on the 8th that the number of initial jobless claims rose to 261,000 in the single week ended June 3, an increase of 28,000 from 233,000 in the previous week and far exceeding market expectations of 235,000. The moving average of claims rose by 7,500 over the four-week period to now stand at 237,000. The data showed that it has become more difficult for the unemployed to find new jobs.
Claims typically start to rise when the economy deteriorates and approaches recession, and the latest data could be a warning sign. U.S. companies have recently seen a wave of layoffs, and many large companies have admitted to overhiring during the epidemic. IBM, Microsoft, McDonald’s, Morgan Stanley and others have announced layoffs in recent months. Since November last year, Amazon and Facebook parent companies have even announced two rounds of layoffs.
[Responsible editor: Lu Xiaofan]