The number of initial jobless claims in the United States rose to 241,000, reaching a two-month high, raising doubts about the resilience of the labor market

As of the week ending April 26, the number of initial jobless claims in the United States rose to 241,000, reaching a two-month high and significantly higher than the market expectation of 223,000. The continued increase in unemployment benefit applications may indicate a weakening labor market, particularly with New York State seeing an increase of 15,500 claims. Although holiday factors may cause data fluctuations, the reemployment cycle for the unemployed has lengthened, with the four-week moving average rising to 226,000. The ADP report shows that the pace of hiring by businesses has fallen to a nine-month low, raising concerns about the employment outlook