File - A hiring sign is displayed in Riverwoods, Ill., on April 16, 2024. –
Weekly filings for unemployment benefits, which are a proxy for layoffs, remain low by historic standards. But they started rising in May, adding to evidence that high interest rates are taking a toll on the U.S. job market. But the higher rates finally seem to be taking a toll. Employers added just 114,000 jobs in July, well below the January-June monthly average of nearly 218,000. The unemployment rate rose for the fourth straight month in July, though it remains low at 4.3%. Monthly job openings have fallen steadily since peaking at a record 12.2 million in March 2022. They were down to 8.2 million in June.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: