The US job market is flashing red lights! The number of initial jobless claims has increased for nine consecutive weeks, reaching the highest level since November 2021

The number of initial jobless claims in the United States has risen for the ninth consecutive week, reaching the highest level since 2018. This reflects a tightening job market and a decrease in job opportunities. The data on initial jobless claims fluctuates significantly due to factors such as holidays, but the moving average of initial claims has increased to the highest level since August last year. In addition, the June ADP report in the United States shows a cooling job market, with the unemployment rate rising to the highest level in over two years. The number of unemployed individuals reapplying for benefits has increased again, indicating that unemployed Americans need more time to find work. There are also sporadic signs of corporate layoffs