VIDEO: Weekly jobless claims

(NBC) - The number of Americans applying for unemployment benefits last week rose to the highest level in more than eight months in what may be a sign that the labor market may be weakening.

New signs the job market may be weakening as applications for unemployment benefits surge higher than expected.

The number of Americans applying for unemployment benefits last week rose to its highest level since November of last year.

There were 251 thousand applications for jobless aid.

That's up seven-thousand over the previous week.

There have been some high-profile layoffs recently by Tesla, Netflix, Carvana, Redfin and Coinbase.

And consumer prices continue to soar up more than nine-percent in June compared to a year ago making it the biggest yearly increase since 1981.