Updated: 12-Jun-25 09:22 ET
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Updated: 12-Jun-25 09:22 ET |
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Highlights
- Initial jobless claims for the week ending June 7 hit 248,000 (Briefing.com consensus 250,000), unchanged from the prior week's upwardly revised level (from 247,000).
- Continuing jobless claims for the week ending May 31 increased by 54,000 to 1.956 million from last week's downwardly revised 1.902 million (from 1.904 million).
Key Factors
- The four-week moving average for initial claims increased by 5,000 to 240,250, reaching its highest level since August 2023.
- The four-week moving average for continuing claims increased by 19,750 to 1,914,500, reaching its highest level since November 2021.
- The total number of continued weeks claimed for benefits in all programs for the week ending May 24 was 1,783,802, a decrease of 20,961 from the previous week and compared to 1,693,748 in the comparable week a year ago.
Big Picture
- The key takeaway from the report is that continuing claims reached a level not seen since late 2021, which will invite some questions about the strength of the labor market since laid-off workers are having an increasingly difficult time finding new jobs quickly.
Category |
Jun 7 |
May 31 |
May 24 |
May 17 |
May 10 |
Initial Claims |
248K |
248K |
239K |
226K |
228K |
4-Wk Moving Avg |
240K |
235K |
231K |
231K |
230K |
Continued Benefits |
|
1956K |
1902K |
1907K |
1893K |
4-Wk Moving Avg |
|
1915K |
1895K |
1887K |
1888K |