States reported 235,000 staff filed for new unemployment advantages within the week ending July 2, a rise of 4,000 from the revised degree of the earlier week. The variety of staff who proceed to assert unemployment advantages – 1.3 million – is nicely beneath the pre-pandemic common of 1.7 million.
Unemployment claims have remained close to pre-pandemic ranges because the begin of this yr as employers have typically averted shedding staff because of traditionally excessive demand. However claims have been slowly rising since hitting a 53-year low this spring and it appears to be like like layoffs are beginning to occur throughout quite a lot of sectors as enterprise progress slows and labor prices rise. work.
The US Division of Labor’s jobs report for June is due Friday. Analysts count on the financial system so as to add 268,000 jobs final month, down from the 390,000 reported for Might.