US weekly jobless claims rise to 353,000, above economist forecasts

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US weekly jobless claims rise to 353,000, above economist forecasts
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US jobless claims climb for first time in 5 weeks, to 353,000

Filings for unemployment insurance jumped from pandemic-era lows last week as the country crept closer to the expiration of federal UI aid.

The print interrupts four straight weeks of declines. The previous week's count was revised to 349,000 from 348,000 and still marks the lowest reading since the pandemic drove claims higher. The latest reading also comes mere weeks before the federal boost to UI lapses. A handful of programs created by Congress have augmented weekly benefits payouts since the pandemic began early last year, but they're set to expire in September. The Biden administration reiterated earlier this month it would let the programs expire, andTwenty-six states announced plans to prematurely slash the benefit, with many arguing the move would push more jobless Americans into the workforce..

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