Fewer Americans applied for unemployment benefits last week as the U.S. job market remains strong in the face of rising inflation and interest rates.
Applications for jobless aid fell by 3,000 to 229,000 for the week ending June 11, down from the previous week’s 232,000, the Labor Department reported this morning. First-time applications generally represent the number of layoffs.
The four-week average for claims, which evens out some of the week-to-week volatility, rose by 2,750 from the previous week, to 218,500.
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The total number of Americans collecting jobless benefits for the week ending June 4 was 1,312,000. That figure has hovered near 50-year lows for months. See the report.
