Breaking: US initial jobless claims up by 13,000 to 242,000

The number of seasonally adjusted initial jobless claims in the United States increased by 13,000 to 242,000 for the week ending June 8, according to the Department of Labor’s report published on Thursday.

This figure exceeded analysts’ predictions, indicating a potential shift in the labor market.

Insured unemployment rate remains steady at 1.2%

The four-week moving average of initial jobless claims rose by 4,750 compared to the previous week, reaching 227,000.

This metric, often seen as a more stable indicator of labor market trends, suggests a gradual increase in unemployment claims over the past month.

For the week ending June 1, the advance seasonally adjusted insured unemployment rate held steady at 1.2%, the same as the previous week.

The total number of insured unemployed individuals was 1,820,000, an increase of 30,000 from the prior week.

Increase in four-week moving average for insured unemployment

The four-week moving average for insured unemployment also saw a rise, climbing by 8,500 to 1,796,750 from the previous week’s revised average.

This increase reflects a slight but noticeable upward trend in the number of individuals continuing to receive unemployment benefits.