New unemployment insurance claims have increased modestly in the United States, suggesting that the tight labor market is easing.
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New unemployment insurance applications have remained near their highest levels since January, highlighting a modest increase last week that the previously extremely tight labor market is easing somewhat. It is expected that the overheating of labor demand will diminish due to the impact of the rate hike.NetflixThere is the potential for a wider range of layoffs, rather than the targeted job cuts already announced by Tesla and others.
New unemployment insurance application (upper), 4-week moving average (lower)
Source: Bloomberg, US Department of Labor
According to the June US employment data released on the 8th, the number of non-farm payrolls is expected to grow only modestly for the first time in regarding a year. The unemployment rate is expected to remain at its lowest level in regarding 50 years. Announced on the 6thNumber of US jobsAlthough it decreased from the previous month, it remained near the record high.
The four-week moving average of less volatile unemployment insurance applications increased slightly to 232,500. It has increased in 12 of the last 13 weeks. The number of new unemployment insurance applications last week increased to 219,507 on a pre-seasonally adjusted basis. By state, Newyork, Michigan, and California increased significantly.
See the table for details on statistics.
Original title:US Jobless Claims Rose Last Week to Highest Since January(excerpt)
