US Jobless Claims Surge: Impact on Labor and Crypto Markets

Jobless claims reached an eight-month high in the U.S., impacting both labor markets and crypto markets. According to data from the Department of Labor, initial jobless claims climbed to 247,000 for the week ending May 31, 2025, marking a notable increase of 8,000 from the previous week’s revised figure. This surge is attributed to economic pressures stemming from escalating tariffs.