Brave Business

Jobless claims edge up to highest since January; planned layoffs soar; trade deficit hits 2022 low Jobless claims each week grew slightly while the U.S. trade deficit decreased in May as China was gripped by Covid -related shutdowns, according to economic data released Thursday. According to the Labor Department , the number of first applications for unemployment benefits reached 235,000 for the week ending July 2. This represents an increase of 4,000 from the prior week and a modest increase over the 230,000 Dow Jones projection. The four-week moving average increased to 232,500, its highest level since December 2021, while the total reached its highest level since January 15. A week behind schedule, continuing claims increased as well, jumping 51,000 to 1.375 million from the estimated 1.337 million by FactSet. Additionally on Thursday, the employment agency Challenger, Gray & Christmas revealed that the number of planned layoffs jumped to 32,517 in June, a 57 percent increase fr...