Initial jobless claims in the US fell by 5,000 from the previous week to 227,000 on the first period of July, below market expectations of a 2,000 increase to 235,000.
It was the fourth consecutive decline in initial claims to the lowest count in seven weeks, consolidating the view that the US labor market remains relatively robust to high interest rates and economic uncertainty. Still, outstanding unemployment claims rose by 10,000 to 1,965,000, the most since 2021, to solidify concerns that hiring is slowing.
Initial claims filed by federal government employees, which have been under scrutiny following recent dismissals by the Department of Government Efficiency (DOGE), fell by 15 to 438 in the last week of June, tying for the least since December 2024.
Source: Trading economi
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