US jobless claims rise by 8,000
By Iain Gilbert
Date: Thursday 05 Jun 2025
(Sharecast News) - Amercians lined up for unemployment benefits at an accelerated pace in the week ended 31 May, according to the Department of Labor.
Initial jobless claims rose by 8,000 to 247,000, up from the previous week's revised figure of 239,000, versus expectations of a drop to 235,000 to mark the highest reading since October 2024.
Elsewhere, continuing claims dipped to 1.90m, down from the prior week's revised reading and below expectations of 1.91m, while the four-week moving average, which aims to strip out week-to-week volatility, came in at 235,000, an increase of 4,500 from the previous week's revised average.
The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending 24 May, a decrease of 0.1% from the previous week's unrevised rate.
Reporting by Iain Gilbert at Sharecast.com
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