Number of Americans filing jobless claims hits highest level in a year

WASHINGTON, D.C.: Last week, the number of Americans filing for unemployment benefits surged to its highest level in a year, despite the labor market showing resilience amidst high interest rates.

The Labor Department reported on Thursday that jobless claims for the week ending July 27 rose by 14,000 to 249,000 from the previous week's 235,000. This marks the highest level since the first week of August last ye