United States Initial Jobless Claims

Initial jobless claims in the US fell by 10,000 from the previous week to 236,000 on the week ending June 21st, less than market expectations that they would remain unchanged. Still, the result remained firmly above this year's average, suggesting some softening in the US labor market. Additionally, outstanding claims rose by 37,000 to 1,974,000 in the week prior, well above market expectations of 1,950,000, and the highest since November 2021 to suggest that the unemployed population is having more difficulties in finding suitable employment. Initial claims filed by federal government employees, which have been under scrutiny following recent dismissals by the Department of Government Efficiency (DOGE), fell by 55 to 480 in the second week of June.