U.S. first-time unemployment claims jump to 10-month high
The numbers: Initial jobless claims surged by 13,000...
The numbers: Initial jobless claims surged by 13,000 — to 242,000 — in the week ending June 8, the Labor Department said Thursday. That’s the highest level of claims since last August. Economists polled by The Wall Street Journal had estimated new claims would fall to 225,000.
Last week, claims were unrevised as a rise of 8,000 to 229,000.
The U.S. unemployment rate dropped to 4% in May, the highest since 2022.
Key details: The number of people already collecting jobless benefits in the week ended June 1 rose by 30,000 to 1.82 million.
The latest AAA map of Oklahoma reflecting gasoline prices shows the state is bleeding red—from one end to the other. Sixteen counties with average prices of more than $3 a gallon are highlighted in red.
Coal County in the southeast has the highest average, at $3.50 a gallon, followed by Greer County in the southwest, which has an average of $3.41 per gallon.
The statewide average as of Wednesday, according to AAA, is $2.99 per gallon, up two cents in one day but still below the $3.02 average reported a week ago.
Oklahoma City prices average $2.97 and rose 5 cents in one day but are less than last week’s average of $3.02.
Tulsa drivers pay an average of $2.97, a penny more in one day and three cents higher than last week.
A widespread power outage hit Puerto Rico Wednesday night, leaving more...
A widespread power outage hit Puerto Rico Wednesday night, leaving more than 340,000 customers without electricity after two of the U.S. territory’s power plants shut down. The capital of San Juan was left without power, as were neighboring municipalities, including Bayamón, Caguas, and Carolina.
Elon Musk’s $56 billion pay package is up for a vote. Tesla...
Elon Musk’s $56 billion pay package is up for a vote. Tesla shareholders will vote today on whether to reinstate the CEO’s compensation package, which was okayed in 2018 but struck down by a Delaware judge in January—and it’s expected to be close. Musk and Tesla’s board have urged support for the measure, with Musk threatening to leave the company and develop important tech like AI elsewhere if it isn’t reupped. But major shareholders appeared divided going into the vote with some considering it too large, potentially giving a big voice to individual investors. Musk’s decision to reincorporate Tesla in Texas rather than Delaware will also be on the ballot.
The Republican-controlled House voted to hold Attorney General Merrick Garland in contempt of Congress for refusing to release audio of President Biden being interviewed by a special counsel.
Florida Gov. Ron DeSantis declared a state of emergency as dangerous flooding occurred in the southern part of the state, including in Miami and Fort Lauderdale.
The G7 Summit begins today, and it’ll include the pope speaking to world leaders about AI (the real pope, not the modish one who wears Balenciaga).
The International Energy Agency said global oil supply will outpace demand by 2030 as production surges and greener energy sources gain popularity.
Benchmark U.S. crude oil for July delivery rose 60 cents to $78.50 per barrel Wednesday. Brent crude for August delivery rose 68 cents to $82.60 per barrel.
Wholesale gasoline for July delivery fell 2 cents to $2.39 a gallon. July heating oilrose 2 cents to $2.44 a gallon. July natural gasfell 8 cents to $3.05 per 1,000 cubic feet.
