US Jobless Claims Steady, Continuing Claims Jump
Initial jobless claims in the US held steady at 248,000 in the first week of June, unchanged from the previous week’s revised reading and defying market expectations for a decline to 240,000.
The reading remained at its highest level since early October 2024, signaling early signs of weakness in the labor market amid ongoing economic uncertainty. The four-week moving average, which smooths out weekly fluctuations, rose by 5,000 to 240,250—the highest level since late August 2023.
Meanwhile, continuing claims jumped by 54,000 to 1,956,000 in the week ended May 31, the highest since mid-November 2021 and well above the 1,910,000 estimate. (alg)
Source: Trading Economics