States reported 229,000 employees filed for new unemployment advantages within the week ending June 18, a lower of two,000 from the revised stage of the earlier week. The four-week rolling common of 1.3 million employees nonetheless claiming unemployment advantages is the bottom stage of that common since January 3, 1970.
Unemployment claims have remained near pre-pandemic ranges because the begin of this yr as employers have usually averted shedding employees given traditionally excessive demand, though it’s reported that some layoffs are beginning to occur in numerous industries on account of slowing enterprise development and rising labor prices.
The unemployment price held regular at 3.6% in Might, shut to what’s thought-about full employment. And the US labor market stays stable total, however is displaying some early indicators of slowing. US employers added 390,000 jobs in Might— a strong acquire that was additionally under the common month-to-month price of development over the previous yr.
