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BREAKING
Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

US: Unemployment benefits applications generally indicate layoffs

  • By Al Mayadeen English
  • Source: Agencies
  • 4 Aug 2022 23:24
3 Min Read

The unemployment rate has increased slowly in the US as inflation reached 9.1%.

  • x
  • Inflation in the US reaches 9.1% (Frederic J. Brown)
    Inflation in the US reached 9.1%.

With the unemployment rate slowly increasing in the US, more Americans applied for unemployment benefits last week.

The Labor Department said on Thursday the number of applications for unemployment benefits increased by 6,000 to 260,000 for the week ending July 30 from 254,000 the previous week. The number of applications for new unemployment benefits applications generally indicates layoffs. 

The number of jobless benefits claims increased from the prior week to 254,750 on a four-week average, which usually balances out weekly fluctuations.

The overall number of Americans claiming unemployment benefits increased by 48,000 for the week ending July 23 from 1,416,000 the week prior. For months, that number has been close to 50-year lows.

The Labor Department announced on Tuesday that fewer job opportunities were posted by American firms in June as the economy struggled to deal with stubbornly high inflation and increasing interest rates.

According to a Morning Consult poll, as #recession fears grow among #Americans, 63% of respondents said they are very or somewhat concerned about being able to afford gas/fuel in the future.#Inflation pic.twitter.com/21H03vKyRH

— Al Mayadeen English (@MayadeenEnglish) July 29, 2022

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From 11.3 million in May, job vacancies decreased to 10.7 million in June. Prior to last year, there were never more than 8 million job opportunities in a single month. From December through May, however, the number had not decreased below 11 million until June.

The Labor Department's July employment report, which is scheduled to be released on Friday, is anticipated to reveal that businesses added 250,000 new positions in July. While this would be good in normal circumstances, however, in the current situation, it would be the lowest number since December 2020.

For the fifth consecutive month, economists anticipate that the unemployment rate will remain at 3.6%.

Even though the labor market is currently regarded as being robust, notable companies including Tesla, Netflix, Carvana, Redfin, and Coinbase have lately announced layoffs. Many other businesses, especially in the computer industry, have issued hiring curbs.

The US economy appears to be weaker than previously thought, according to other indications. The government reported last week that the second quarter's 0.9% decline in the US GDP was the second consecutive quarterly decline.

Consumer prices continue to surge, with a 9.1% inflation rate when compared with last year's prices. This increase constitutes the highest annual increase in four decades. The Federal Reserve responded by increasing its key borrowing rate by three-quarters of a percentage point last week. This comes after a three-quarter point jump in June and an additional half-point increase in May.

Read more: US before 'very narrow path' to avert recession: IMF

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Throughout Operation Prosperity Guardian, current and former US military and intelligence officials expressed disquiet at the enormous “cost offset” involved in battling Ansar Allah. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

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