Reported 4 months ago
The Labor Department reported that the number of Americans filing new claims for unemployment benefits increased by 3,000 to 219,000 for the week ending May 25. Despite the uptick, the labor market shows resilience, with continuing claims also rising by 4,000. Economists had expected 218,000 initial claims. The market continues to adjust to interest rate hikes by the Federal Reserve since March 2022, indicating ongoing support for the economy.
Source: YAHOO