US Jobless Claims Rise, Labor Market Still Tight

Labor News

Reprinted from The New York Times by Reuters on June 22, 2017.

The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market.

Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ended June 17, the Labor Department said on Thursday.

Economists polled by Reuters had forecast first-time applications for jobless claims rising to 240,000 in the latest week.

Following the report, the dollar held at slightly lower levels against a basket of currencies while US Treasuries were little changed.

Jobless claims for the prior week were revised upwards by 1,000 to 238,000 from 237,000. The week’s tally is the 120th consecutive week that claims have been below 300,000, the threshold associated with a strong labor market. It’s the longest stretch that claims have remained below that level since 1970. …

NY Times 6/22

About Jeffrey Burman 1652 Articles
Jeff Burman represents assistant editors on the Guild’s Board of Directors. He can be reached at jeffrey.s.burman.57@gmail.com.

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