Chart showing U.S. initial unemployment claims rising to 247,000 in May 2025, the highest level in 8 months, indicating potential labor market softening
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Initial Unemployment Claims: The Economic Canary in the Coal Mine

Picture this: You’re driving down the highway, and your car’s check engine light starts blinking. Do you ignore it and keep cruising? Or do you pull over to investigate before your engine seizes up completely? Initial unemployment claims are basically the economy’s check engine light—and right now, that light is blinking pretty frantically. The latest…