<ul><li>US initial jobless claims rose by 8,000 to 247,000 in the week ending May 31, the highest since October.</li><li>Weekly claims fluctuated around holidays, indicating a potential rise in layoffs with sustained gains in benefit filings.</li><li>Continuing claims slightly fell to 1.9 million, showing an elevated number of individuals seeking benefits compared to last year.</li><li>Various factors like tariffs, funding cuts, and economic pessimism are contributing to job cuts by companies like Microsoft, Disney, and Booz Allen Hamilton.</li></ul>

US Initial Jobless Claims Rise To Highest Level Since October

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