The number of Americans filing new applications for unemployment benefits ticked up to the highest level in a month last week, suggesting the labor market was largely stable even though job creation is weakening and it is taking laid-off workers longer to find new employment.

The labor market isn’t great for people looking to work. But as long as most people who have a job keep their jobs, they are likely to continue to spend at levels that support a growing economy and stave off a recession.

Recurring applications for unemployment benefits surged to the highest since November 2021, adding to recent signs that the labor market is weakening.

The number of Americans receiving unemployment benefits has climbed to its highest point in nearly four years, signalling a cooling labour market. Continuing claims for unemployment insurance rose to 1.