Weekly U.S. initial jobless claims rise by 8,000
June 5 (UPI) -- Eight thousand more Americans filed initial unemployment claims for the week ending May 31, according to a Thursday Department of Labor report.
The total number of seasonally adjusted initial unemployment claims for the week were 247,000, -- 8,000 higher than the previous week.
The four-week moving average of initial unemployment claims was also 8,000 higher for a total of 1,895,250. It's the highest since November 27, 2021 when it was 1,923,500.
"The advance number of actual initial claims under state programs, unadjusted, totaled 208,642 in the week ending May 31, a decrease of 3,128 (or -1.5%) from the previous week. The seasonal factors had expected a decrease of 10,505 (or -5.0%) from the previous week. There were 196,177 initial claims in the comparable week in 2024," The Labor Department said in a statement.
The jobless claims report comes as U.S. layoffs are 47% higher this May than last, according to Challenger, Gray and Christmas.
The insured unemployment rate - meaning the percentage of the workforce covered by unemployment insurance and receiving benefits - was 1.2% for the week ending May 24.
Highest number of initial jobless claims came in Michigan (+3,259), Nebraska (+1,328), California (+ 1.041), Florida (+977) and Virginia (+947).
The largest decreases were in Massachusetts (-747), Illinois (-744), Texas (-601), Washington (-307), and New York (-259).
Copyright 2025 UPI News Corporation. All Rights Reserved.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
38 minutes ago
- Yahoo
North Jersey teen wins award for his workshop to teach money awareness to other students
Financial education and budgeting for kindergartners? Yes, it's never too soon to start, said Bergen County Technical High School junior Danny Jang. The Fort Lee teen's nonprofit Futures Financials Inc.'s "money awareness" workshops for students earned him a "Best Educator" citation from the professionally dominated international Money Awareness and Inclusion Awards on May 28. "Teens graduate without knowing how to open a bank account, budget their paycheck or invest for the future," Danny said. "One in four Americans after the age of 25 still don't know how to invest, how to budget efficiently, which I think is insane. Our nonprofit is built around a simple but urgent mission: make financial education accessible, engaging and everywhere." As a freshman, Danny joined the school's Financial Literacy Club to get some community service hours. Club members visited Bergen County libraries and taught children financial literacy. But after his freshman year, Danny said, he asked himself, "How could I make this club more engaging and fun?" The first answer was team teaching. "We would teach for a day, acting more like a brother and sister relationship than a teacher and lecturer," Danny said. "Then we started collaborating with a lot of organizations on the slide shows and financing." In spite of a large membership and strong teacher support, Danny said, the school eventually had to bow out as a sponsor over concerns about liability and activities outside of school that were considered "too broad for a student-run club." With a group of students, Danny formed Futures Financials Inc. last year to carry on their money awareness goals. "Rather than let the work stop there, we formalized our efforts as a nonprofit," Danny said. "This allowed us to continue and grow — teaching hundreds more students, appearing on the news, testifying in Trenton, and helping students start new chapters in schools and communities more open to this initiative." Among their early sponsors was Next Gen Personal Finance founder Tim Ranzetta, who provided grant funding and tech support. "I'm an entrepreneur with a passion for education," Ranzetta said. "After witnessing firsthand the multigenerational impact that a personal finance course could have, I wanted to share with a wider audience. Danny's organization is a great example of what we see happening across the country, a movement focused on ensuring all students in high school benefit from a personal finance course." In order to graduate from high school in New Jersey, students are required to complete 2.5 credits, roughly half a year, on financial, economic, business and entrepreneurial literacy. This includes the fundamentals of debt, budgeting, saving and investing. However, Danny said, the requirement often loses its impact when incorporated into other subjects such as social studies, and needs to be more separate and specific. Cofounder Wesley Leung testified on behalf of the group before the New Jersey Senate in favor of Bill S3497 (Assembly Bill A4764) that would extend the requirement to middle school grades six to eight. Meanwhile, Futures Financials continues to expand its repertoire to fit the needs of various student groups. "We tailor-make a version of what we teach depending on what the kids tell us about how they live," Danny said. "In some cases, the kindergarten or first grade classes come up to the fifth grade class and we teach them together. Sometimes what fifth graders don't know, a second grader might." Regardless of age, Danny said, "money enters the picture pretty early, I don't care how modest the income." "Buy me an ice cream, buy me a video game," Danny said. "The kid is always going to be asking for stuff, and the parents are going to respond in different ways." Financial concerns shift in high school as students prepare to enter college, Danny said. "They have no clue about college financial aid, scholarships, stipends, loans," Danny said. Team members follow up with a virtual handout to parents that can function as a game to educate the entire family. "Not only does it help the children, it also helps parents be more engaged about teaching their children," Danny said. "They learn about it in a fun manner. And that's my goal, for the parents to be aware of what their students are learning. Discussion is the good part." For more information on Futures Financials Inc., visit This article originally appeared on North Jersey teen's money awareness course for students wins award
Yahoo
an hour ago
- Yahoo
Supreme Court gives DOGE access to millions of Americans' private Social Security data
The Brief The Supreme Court ruled DOGE can access personal data from the Social Security Administration. The case marks the first Supreme Court decision involving DOGE, once led by Elon Musk. The dissent warned the decision puts Americans' sensitive information at risk. WASHINGTON - The Supreme Court on Friday gave the green light for the Trump administration's Department of Government Efficiency (DOGE) to access one of the country's most sensitive databases — the Social Security Administration's internal systems — which hold information on nearly every American. The 6–3 decision, split along ideological lines, marks the first major Supreme Court ruling involving DOGE, the controversial agency once led by Elon Musk. The Court's majority reversed a lower court's order that limited DOGE's access under federal privacy law, siding with the administration's argument that the restrictions were hampering its anti-fraud mission. Liberal justices dissented, warning the decision erodes vital privacy protections. The backstory The Department of Government Efficiency — or DOGE — was established during President Trump's second term and tasked with rooting out government waste and inefficiency. Its first director was Elon Musk, who called the Social Security program a "Ponzi scheme" and repeatedly targeted it as a key source of fraud. Although Musk has since stepped away from DOGE, the department has continued aggressive efforts to audit and investigate various federal programs. Social Security has remained a top priority. The administration argued that unfettered access to the SSA's internal systems was essential to detect abuse, duplication, and improper payouts — particularly in disability and survivor benefits. Dig deeper The case originated in Maryland, where U.S. District Judge Ellen Hollander ruled that DOGE's demand for open access to Social Security data amounted to a "fishing expedition" based on limited evidence of wrongdoing. She blocked broad access but allowed DOGE staff with training and security clearance to view anonymized data, and permitted expanded access only if a specific need was documented. The Trump administration appealed, arguing the court was overstepping its role and interfering with executive branch operations. An appeals court upheld the partial block, but the Supreme Court has now lifted it entirely. Solicitor General John Sauer told the Court the restrictions "micromanaged" DOGE's work and undermined its mission. The other side Opponents of the ruling, including the plaintiffs represented by the advocacy group Democracy Forward, argue that the Social Security Administration contains deeply personal data: salary history, school records, family relationships, medical conditions, and more. They warned that handing this information to a politically driven agency without individualized review poses massive privacy risks. Labor unions and retiree groups joined the lawsuit, saying the system could be weaponized against vulnerable Americans. The dissenting justices agreed. "There is no meaningful check here on the breadth or use of the data," one wrote. "We risk turning privacy law into an empty promise." Why you should care This decision expands the Trump administration's ability to conduct sweeping audits across government agencies using personal data. While supporters frame it as a win for accountability and fraud reduction, critics say it weakens safeguards that prevent misuse of federal databases. It also sets a precedent for how much control the courts can — or cannot — exert over federal agency operations, a core issue as Trump's administration continues to consolidate executive power. What's next With the Supreme Court's backing, DOGE is expected to move quickly in analyzing Social Security data. Critics worry this could lead to mass denials of benefits or politically motivated reviews. Supporters say it could lead to cost-saving reforms. The agency, which has faced more than two dozen lawsuits, remains under scrutiny. Legal challenges are ongoing regarding its personnel decisions, data practices, and oversight authority. The Source This report is based on coverage from the Associated Press and court documents related to the Supreme Court decision in the DOGE v. Democracy Forward case. Additional background was gathered from statements by the U.S. Solicitor General, District Court Judge Ellen Hollander's original ruling, and legal filings from the plaintiff groups, including labor unions and the nonprofit Democracy Forward.
Business Insider
an hour ago
- Business Insider
Trump's trade talk delegation is set to face off with China's negotiators in London. Here is what's at stake.
Three top Trump administration economic officials will face off against Chinese negotiators in a renewed effort to break the US-China trade deadlock. Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and Trade Representative Jamieson Greer will be meeting China's delegation in London on Monday. "The meeting should go very well," President Donald Trump wrote in a social media post announcing the talks. This coming meeting will be the first official talk between the two countries since they mutually lowered tariffs in a temporary truce on May 12, after talks in Geneva. The renewed talks follow a 90-minute phone call between Trump and China's leader Xi Jinping on Thursday, a rare direct conversation that Trump later described as "very good." According to Trump, the two leaders also agreed to visit each other in person, without providing more details in terms of a timeline. The Chinese Embassy of Washington did not respond to a request for who would be attending this negotiation from its side. The team they sent to Geneva consisted of Vice Premier He Lifeng, Vice Commerce Minister Li Chenggang, and Vice Finance Minister Liao Min. Notably, Li has a Master of Laws from the University of Hamburg in Germany and has been part of China's delegation to the World Trade Organization since 2021. International trade experts previously told Business Insider that much is at stake for both China and the US to strike a deal, or at the very least, continue the truce beyond August 12 when the 90-day tariff pause will expire. "The Trump administration made their job harder because the tariff policies they've implemented are costly to Americans and American companies, and therefore, the market doesn't like it," said Philip Luck, director of the CSIS Economics Program. "They are under a lot of pressure to do things fast." Meanwhile, a lawsuit that threatens to undo all of Trump's tariffs enacted under the IEEPA also looms over negotiations with China. Drew DeLong, lead in geopolitical dynamics practice at Kearney, a global strategy and management consulting firm, told BI that if the court strikes down tariffs before trade deals could come to pass, other routes of imposing tariffs could be more complicated and time-consuming. The White House did not provide Business Insider with any additional comment beyond Trump's Truth Social post.
