Overview
- Initial claims rose by 12,000 to a seasonally adjusted 211,000 for the week ended May 9, the Labor Department said Thursday.
- Continuing claims, which track people receiving benefits after the first week and hint at hiring, increased to 1.782 million for the week ended May 2.
- April payrolls grew by 115,000 and the unemployment rate held at 4.3%, pointing to low layoffs and slower hiring.
- Producer prices logged their biggest monthly rise in four years in April as costlier oil and other commodities lifted business expenses.
- Reporters linked the price pressures to disrupted shipping through the Strait of Hormuz tied to the U.S.-Israel war with Iran, a risk that could curb hiring and delay interest-rate cuts.