Surge of New Applications for , Unemployment Benefits , May Signal Cooling Job Market.br Last week, the number of people in the br United States filing for unemployment benefits br reached the highest level in ten months last week. .br ABC reports that the news comes as a potential br sign that the U.S. labor market may be slowing br under the burden of high interest rates. .br The week ending June 8 saw br applications for jobless benefits br rise by 13,000 to reach 242,000. .br According to Labor Department br data, that is up from 229,000 new br applications the week before.br The number also represents the highest br number of new applications since August br of 2023, while also being significantly higher br than the 225,000 new claims forecast.br ABC reports that weekly unemployment claims have br lingered at historically low levels since millions of br jobs disappeared with the COVID-19 pandemic.br ABC reports that weekly unemployment claims have br lingered at historically low levels since millions of br jobs disappeared with the COVID-19 pandemic.br Since March of 2022, the Federal Reserve has raised br benchmark rates 11 times in an attempt to reign in br inflation which has risen to a four-decade high.br While the latest data suggests that consumerbr inflation cooled in May, the Federal Reserve br has decided to leave rates at a 23-year high.br According to Fed Chair Jerome Powell, officials br are waiting for more evidence that prices br are reaching their target of two percent.br ABC reports that a total of 1.82 million br Americans were collecting unemployment br benefits in the week ending June 1. .br ABC reports that a total of 1.82 million br Americans were collecting unemployment br benefits in the week ending June 1.