The number of initial jobless claims in the United States unexpectedly soared to 247,000, reaching an eight-month high.

Last week, the number of initial jobless claims in the United States unexpectedly rose to the highest level since October last year, further indicating that the labor market is cooling down. Data released by the US Department of Labor on Thursday showed that in the week ending May 31, including Memorial Day, the number of initial jobless claims increased by 8,000 people to 247,000 people, far exceeding economists' expectations of 235,000 people. Although weekly unemployment data itself fluctuates greatly, especially around holidays, recent economic indicators show a slowdown in economic activity. If the number of initial jobless claims continues to climb in the coming weeks, it may indicate that a wave of layoffs is spreading. As a more stable indicator of trends, the four-week moving average of initial jobless claims has risen to 235,000 people, also hitting a new high since October last year. At the same time, the number of continued jobless claims (reflecting the total number of people receiving unemployment benefits) fell slightly to 1.9 million people in the previous week, but still remains high compared to the same period last year, indicating that the time needed for unemployed individuals to find new jobs is increasing. According to another report by the US outplacement firm Challenger, Gray & Christmas released on Thursday, US employers announced about 93,800 job cuts in May, a decrease from April but still higher than the average level last year, with layoffs in the service industry and retail leading the way. Andrew Challenger, senior vice president of Challenger, Gray & Christmas, stated in the report: "Tariff policies, funding cuts, weak consumer spending, and overall economic pessimism are forcing companies to significantly reduce labor costs. Companies are cutting expenses, slowing down hiring, and gradually issuing layoff notices." Several large companies, including Microsoft Corporation, Walt Disney Company, and Booz Allen Hamilton Consulting, have recently announced layoffs. However, the seasonally adjusted number of initial jobless claims actually decreased, with Michigan and Florida showing the most significant declines. Economists expect that the nonfarm payrolls report for May, to be released on Friday, will show a slowdown in job growth after a strong April, but the unemployment rate may remain unchanged at 4.2%.