Initial jobless claims held steady at a seasonally adjusted 248,000 for the week ending June 7, unchanged from the previous week’s upwardly revised figure, and close to the Dow Jones estimate of 246,000, according to data released Thursday (June 12) by the US Labour Department.However, continuing claims—considered a measure of longer-term unemployment—rose by 54,000 to 1.96 million, the highest level since November 13, 2021.
Also Read: Muted US Producer Prices add to string of tame inflation reports
US Federal Reserve officials are widely expected to hold interest rates steady at their meeting next week, as they wait to see how President Donald Trump’s policies affect the economy. Job growth slowed but remained healthy in May, while inflation data released this week showed limited impact from tariffs so far.In a separate report Thursday, US producer price inflation remained muted in May across the board, another sign that tariffs have yet to result in higher prices for consumers and businesses. Treasury yields and the dollar fell after the economic data.
