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The number of Americans filing applications for unemployment benefits eased from last week’s four-month high as the job market continues to hold steady.
Initial jobless claims fell by 4,000 to 226,000 for the week ending June 13, according to new Department of Labor data released on June 18. The previous week’s reading was revised up to 230,000.
This came in slightly above the market forecast of 225,000.
The four-week average, which strips out week-to-week volatility, ticked up by 4,000 to 223,250.
Momentum in the U.S. labor market has seemingly stalled this month, maintaining the same low-fire, low-hire position of the past two years.
“Despite a strong payroll report in May, this is still a low-hire, low-fire market, and the labor data have yet to point to gathering momentum,” Indeed Hiring Lab economists said in a June 18 research note….
Initial jobless claims fell by 4,000 to 226,000 for the week ending June 13, according to new Department of Labor data released on June 18. The previous week’s reading was revised up to 230,000.
This came in slightly above the market forecast of 225,000.
The four-week average, which strips out week-to-week volatility, ticked up by 4,000 to 223,250.
Momentum in the U.S. labor market has seemingly stalled this month, maintaining the same low-fire, low-hire position of the past two years.
“Despite a strong payroll report in May, this is still a low-hire, low-fire market, and the labor data have yet to point to gathering momentum,” Indeed Hiring Lab economists said in a June 18 research note….
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