Economic Indicators
Labor Market Starts to Cool as Initial Jobless Claims Hit 3-Month High
2022.06.09 15:50
By Geoffrey Smith
Investing.com — The red-hot U.S. labor market showed a rare sign of cooling off on Thursday, as initial claims for jobless benefits rose by more than expected to their highest in three months.
The Labor Department said initial jobless claims hit 229,000, a rise of 27,000 from the previous week. That took the four-week moving average for initial claims to 215,000, also a three-month high.
Continuing claims, meanwhile, were flat at the historically low level of 1.306 million.
