U.S. Weekly Unemployment Claims Fall to 245,000
(MENAFN) According to Wednesday’s report from the Labor Department, the count of Americans submitting initial unemployment benefit applications decreased by 5,000 last week, settling at 245,000.
This figure was just under the anticipated 246,000 claims predicted by analysts and represented a decline from the prior week's revised total of 250,000.
Meanwhile, the four-week moving average rose by 4,750 to reach 245,500, up from the previous week's updated figure of 240,750.
The Labor Department noted, "This is the highest level for this average since August 19, 2023, when it was 246,000."
Looking back at May’s employment data, the US economy saw a gain of 139,000 jobs, exceeding the expected 126,000 additions.
The unemployment rate held steady at 4.2% in May, unchanged from April and aligning with predictions.
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