US filings for jobless benefits hits 211,000 as the war in Iran drags on
Summary
The number of Americans applying for unemployment benefits rose to 211,000 last week but remains low compared to historical levels. Economic uncertainty from the ongoing war in Iran has contributed to slower hiring and higher inflation in the U.S. economy.Key Facts
- Jobless benefit applications increased by 12,000 to 211,000 for the week ending May 9, 2026.
- The unemployment rate in the U.S. is currently 4.3%, considered low by economists.
- Despite adding 115,000 jobs in April, hiring has slowed as businesses face uncertainty from the Iran war.
- The Strait of Hormuz, a critical oil shipping route, remains closed, causing oil prices to rise over 50%.
- The average gas price in the U.S. climbed to $4.53 per gallon from under $3.00.
- Consumer inflation rose 3.8% from the previous year, the largest increase in three years.
- Wholesale prices increased 6% year-over-year, the highest in over three years.
- The Federal Reserve kept interest rates steady recently due to uncertainty from inflation and Middle East instability.
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