2023-06-22 13:37:52
U.S. unemployment claims last week were unchanged from the previous week, maintaining the highest level since October 2021. It suggests that the labor market is softening somewhat.
Key points Initial jobless claims in the week ending June 17 remained unchanged at 264,000 from the previous week Median economists expect 259,000 to 264,000 in the week before (preliminary estimate of 262,000) fix
The number of continuing unemployment insurance recipients decreased by 13,000 from the previous week to 1,759,000 in the week ending June 10.
A wave of layoff announcements, particularly in the technology and financial industries, has kept the number of applications somewhat high of late. It’s also a sign that demand for part-time workers is weakening.
The four-week moving average of less volatile jobless claims rose to 255,750, the highest since November 2021.
Decreased to regarding 250,000 on a pre-seasonally adjusted basis. State-by-state declines were notable in Georgia, Missouri and Indiana. On the other hand, California, New Jersey, and Connecticut saw particularly large increases.
See table for detailed statistics.
Original title:US Jobless Claims Hold at Highest Level Since October 2021(excerpt), US Weekly Jobless Claims Unchanged at 264K; Est. 259K (excerpt)
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