Trickling higher: U.S. jobless claim applications rose last week but remain at historically low levels despite elevated inflation and other economic headwinds. The number of Americans filing for unemployment benefits in the week ending May 2 rose by 10,000 to 200,000, the Labor Department reported Thursday. That’s fewer than the 205,000 new applications analysts surveyed by the data firm FactSet were expecting. Read more from The Associated Press.
Request denied: The U.S. Supreme Court has denied a request to revisit its ruling striking down Louisiana’s congressional map, keeping pressure on state lawmakers to quickly redraw district lines ahead of upcoming elections. The decision leaves intact the court’s finding that Louisiana’s two-majority-Black-district map relied too heavily on race, further complicating the state’s already turbulent redistricting battle. Read more from The Center Square.
Efficiency gains: U.S. worker productivity continued to rise early this year, though at a slower pace as hours worked rebounded. Economists say the gains suggest businesses are becoming more efficient through technology investments, including AI, helping ease labor-cost pressures and inflation concerns. Still, inflation-adjusted worker pay declined in the first quarter, while the share of output going to employee compensation fell to its lowest level on record. Read more from Bloomberg. A subscription may be required.
