- The number of Americans filing for unemployment benefits increased more than expected last week.
- The trend in claims remained consistent with a tightening labor market, however.
- Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 227,000 for the week ended June 23, the Labor Department said.
The number of Americans filing for unemployment benefits increased
more than expected last week, but the trend in claims remained
consistent with a tightening labor market.
Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 227,000 for the week ended June 23, the Labor Department said on Thursday. Claims data for the prior week was unrevised. Filings had dropped for four straight weeks prior to the latest data.
Economists polled by Reuters had forecast claims rising to 220,000 in the latest week. There is probably limited scope for claims to post significant declines.
The labor market is viewed as being near or at full employment, with the jobless rate at an 18-year low of 3.8 percent. The unemployment rate has dropped by three-tenths of a percentage point this year and is near the Federal Reserve's forecast of 3.6 percent by the end of this year.
Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 227,000 for the week ended June 23, the Labor Department said on Thursday. Claims data for the prior week was unrevised. Filings had dropped for four straight weeks prior to the latest data.
Economists polled by Reuters had forecast claims rising to 220,000 in the latest week. There is probably limited scope for claims to post significant declines.
The labor market is viewed as being near or at full employment, with the jobless rate at an 18-year low of 3.8 percent. The unemployment rate has dropped by three-tenths of a percentage point this year and is near the Federal Reserve's forecast of 3.6 percent by the end of this year.
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