News Story



U.S. Jobless Claims Rise In Line With Expectations Last Week

- The number of people who filed for unemployment assistance in the U.S. last week rose broadly in line with market expectations, remaining in territory consistent with a strengthening labor market, official data showed on Thursday.

The number of individuals filing for initial jobless benefits in the week ending June 30 increased by 3,000 to a seasonally adjusted 231,000 from the previous week’s total of 228,000, the U.S. Department of Labor said.

The four-week moving average was 224,500, up 2,250 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Continuing jobless claims in the week ended June 23 rose to 1.739 million from 1.707 million in the preceding week, compared to expectations for an increase to 1.720 million.

The report did little to alter the outlook for monetary policy after Federal Reserve Chairman Jerome Powell recently reiterated that the case for continued gradual rate hikes remains strong.

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