The number of initial unemployment claims in the United States has surged to the highest level in nearly four years

BlockBeats News, September 11th, the US saw a sharp increase in initial jobless claims last week, reaching the highest level in nearly four years, indicating that layoffs may be on the rise against the backdrop of a sharp slowdown in hiring.

According to data from the US Department of Labor, as of the week ending September 6th, initial jobless claims hit 263,000, the highest level since October 2021. The four-week average rose to 240,500, the highest since June.

Around holidays, initial claims data may fluctuate, and this week's data covers the Labor Day weekend. Texas saw the largest increase in initial jobless claims, followed by Michigan, while the number of initial claims in other states declined slightly. (FXStreet)