The number of initial jobless claims in the United States has seen the largest increase in three months, with the number of continuing claims rising to the highest level since 2021.

On August 21, the number of initial unemployment claims in the U.S. recorded the largest increase in nearly three months last week, indicating that layoffs may be on the rise, further exacerbating signs of weakness in the labor market. The Labor Department reported on Thursday that for the week ending August 16, the seasonally adjusted number of initial claims for unemployment benefits increased by 11,000 to 235,000, the largest increase since late May. As businesses adjust to Trump’s protectionist trade policies, the labor market has shown a pattern of "low layoffs and weak hiring." The government reported earlier this month that the average monthly job growth over the past three months was 35,000 positions. Domestic demand growth in the second quarter slowed to the lowest rate since the fourth quarter of 2022. The report showed that for the week ending August 9, the number of continuing unemployment claims increased by 30,000 to 1.972 million, the highest since November 2021. ( Jin10 )