US unemployment claims rise to 215,000, 4-week average 209,000
Unemployment claims in the US ticked up slightly to 215,000 last week, but they're still pretty low by historical standards.
Since the pandemic recovery in 2020, numbers have hovered between 200,000 and 250,000.
The four-week average also nudged up a bit to 209,000, so nothing too dramatic, but definitely worth keeping an eye on.
US hires slow, gas prices surge
The job market isn't firing on all cylinders: employers added just 76,000 jobs per month from January to April this year, way down from 2024's average of 122,000.
Retiring baby boomers and tighter immigration rules are playing a role here.
Meanwhile, tensions involving Iran have pushed gas prices way up (from $2.98 to $4.43 per gallon), thanks to the closure of the Strait of Hormuz (a major oil route), which have caused a huge disruption in global oil supply and are making life more expensive for everyone.