Your Capital Markets Snapshot: Concerns Over the U.S. Job Market

With a light week for economic releases, concerns over the U.S. job market were in focus as weekly jobless claims rose to their highest level since August with a gain of 231,000. Paired with last week’s lower than expected April Non-Farm Payroll report and the flat March JOLTS (Job Openings and Labor Turnover Survey) report, market participants are questioning whether higher interest rates have cooled the labor market.