Briefing.com: Initial Claims

Updated: 12-Jun-25 09:22 ET

Initial Claims for the Week Ended Jun 07

Updated: 12-Jun-25 09:22 ET

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.