Rise in Recurring Jobless Claims Signals Higher US Unemployment

Recurring applications for US jobless benefits jumped to the highest level since November 2021, possibly presaging a rise in the unemployment rate this month.

Continuing claims, a proxy for the number of people receiving benefits, increased by 26,000 to 1.92 million in the week ended May 17. That exceeded the median forecast of 1.89 million in a Bloomberg survey of economists. The period includes the reference week for the government’s employment report for the month of May, which is due June 6.

The numbers suggest the combined impact of the Trump administration’s trade policy and government spending initiatives ...