Unemployment Claims Surge More Than Expected, Hit 8-Month Peak: Dollar Falls As Traders Bet On Rate Cuts
The number of individuals filing for unemployment benefits soared more than predicted last week, suggesting emerging weaknesses in the labor market. Jobless claims rose from 209,000 to 231,000 for the week that ended on May 4, marking the highest level since August of the previous year, according to data released by the Department of Labor. This rise ended a sequence of four weeks when the figures were consistently below expectations, and it was higher than the anticipated 210,000 print. The fou
