Rise in Jobless Claims

Jobless claims unexpectedly surged higher last week, reaching nearly a one year high of 249,000. Continuing claims also increased, indicating challenges in finding new work for Americans who have lost their jobs.

Unemployment Benefits and Job Market

The number of people applying for unemployment benefits increased to 229,000, higher than expected. Jobless claims can be volatile week to week, but the four-week average fell. Continuing claims rose slightly. Employers added 175,000 workers in April, the lowest level of job growth since October. Unemployment rate ticked up to 3.9 percent.

Jobless Claims Decline

Jobless claims fell to 215,000, lower than expected, affirming a strong labor market with low layoffs and high demand for workers. Continuing claims rose slightly to 1.79 million.

Fraudulent Activity in NYC Department of Homeless Services

A NYC Department of Homeless Services fraud investigator has been charged with fraudulently claiming unemployment benefits during the COVID-19 pandemic by selling information of vulnerable New Yorkers to an identity theft scammer. The scheme involved accessing personal data of homeless individuals and filing false COVID unemployment claims.

U.S. Jobs Market Stability

The U.S. jobs market has shown an unusual level of stability in first-time claims for unemployment benefits, with figures remaining at 212,000 for five out of six weeks. Experts are divided on whether this consistency is due to statistical anomalies or effective seasonal adjustments.

New West Virginia Law on Unemployment Benefits

New law in West Virginia requires unemployed individuals to complete at least four work-search activities a week to collect state benefits, freezing benefit rates at $622 a week and allowing part-time work while searching for full-time employment.