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23 Jun, 2022 13:51

US initial jobless claims fall by 2,000

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Sharecast / Richard van Liessum via Pixabay

The number of Americans filing fresh unemployment claims fell by 2,000 in the seven days ended 18 June to hit 229,000, below expectations for a print of 227,000 and pointing to an exceptionally tight labour market.

According to the Labor Department, on a non-seasonally adjusted basis, initial claims fell by 3,255 from the previous week to 202,844, with notable decreases seen in Missouri, while the main increases were in California and Pennsylvania.

The four-week moving average, which aims to smooth-out week-to-week volatility, was 223,500, an increase of 4,500 week-on-week, while continuing claims printed at 1.29m, an increase of 14,479.

Meanwhile, the advance seasonally adjusted insured unemployment rate was 0.9% for the week ended 11 June, unchanged from the previous week's unrevised rate.

Reporting by Iain Gilbert at Sharecast.com


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.