U.S. Jobless Claims Drop Slightly
(MENAFN) The tally of Americans applying for initial unemployment benefits dipped by 5,000 last week, reaching a total of 245,000, based on figures shared by the Labor Department on Wednesday.
This total was marginally beneath economic expectations of 246,000 and represented a reduction from the prior week's adjusted figure of 250,000.
The four-week rolling average, used to smooth out weekly fluctuations, climbed to 245,500 — a rise of 4,750 from the previous week’s revised count of 240,750.
"This is the highest level for this average since August 19, 2023, when it was 246,000," stated the Labor Department, highlighting the recent uptick.
In the broader employment landscape, the U.S. labor market gained 139,000 new positions in May, surpassing the anticipated figure of 126,000.
Meanwhile, the national jobless rate remained steady at 4.2 percent in May, unchanged from April, aligning with predictions.
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