United States Initial Jobless Claims

Initial jobless claims in the US held steady at 248,000 in the first week of June, unchanged from the previous week’s revised figure and defying market expectations for a drop to 240,000. The figure remained at its highest level since early October 2024, signaling early signs of softening in the labor market amid persistent economic uncertainty. The four-week moving average, which smooths out weekly fluctuations, rose by 5,000 to 240,250—its highest level since late August 2023. Meanwhile, continuing claims jumped by 54,000 to 1,956,000 in the week ending May 31, the highest since mid-November 2021 and well above the forecast of 1,910,000. In a closely watched segment, initial claims filed by federal government employees—which have been under scrutiny following recent dismissals by the Department of Government Efficiency (DOGE)—rose by 23 to 561 in the last week of May.