US Jobless Claims Rise to 215,000 as Gasoline Jumps to $4.43 in Iran War
Updated
Updated · abcnews.com · May 28
US Jobless Claims Rise to 215,000 as Gasoline Jumps to $4.43 in Iran War
14 articles · Updated · abcnews.com · May 28
215,000 Americans filed new unemployment claims last week, up 5,000 from the prior week, while the four-week average climbed nearly 6,300 to 209,000.
1.79 million people were collecting jobless aid in the week ended May 16, up 15,000, but claims remain in the low 200,000-250,000 range that signals limited layoffs.
76,000 jobs a month were added on average from January through April, better than fewer than 10,000 a month last year but still far below the nearly 400,000 pace of 2021-2023.
4.3% unemployment in April has stayed historically low partly because immigration curbs and Baby Boomer retirements have reduced the hiring needed to keep the rate steady.
$4.43 a gallon gasoline, up from $2.98 before the conflict, is darkening the outlook after Iran closed the Strait of Hormuz, disrupting a fifth of global oil flows.
How will the historic oil shock and a shrinking workforce permanently alter America's job market and cost of living?
As the Iran war disrupts global energy, who are the unexpected economic winners and losers in this new world order?