US jobless claims rose last week | 2019-06-16 | daily-sun.com

US jobless claims rose last week

16 June, 2019 12:00 AM printer

WASHINGTON: The number of initial jobless claims in the United States rose last week, according to a report released by the U.S. Labor Department on Thursday.

In the week ending June 8, the number of first-timers filing for U.S. unemployment benefits increased by 3,000 to 222,000. Meanwhile, the previous week's level was revised up by 1,000 to 219,000, reports Xinhua.

The four-week moving average of initial claims, a measure which irons out data volatility, increased by 2,500 to 217,750, while the previous week's number was revised up by 250 to 215,250, the report showed.

As an important leading indicator of the U.S. unemployment status, a lower reading in jobless claims reflects lower overall layoffs. The latest number remained below the 300,000 threshold, signaling a tight labor market in the United States.

For the bigger picture of the labor market, American employers added a lower-than-expected 75,000 jobs in May, and the unemployment rate remained at 3.6 percent, the lowest level since December 1969, said the U.S. Bureau of Labor Statistics last week.

 


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