Key facts
- U.S. applications for jobless aid fell by 1,000 to 215,000 in the week ending June 27.
- This number was below the 225,000 new applications forecast by analysts.
- The four-week moving average of jobless claims decreased by 2,500 to 222,000.
- U.S. employers added 57,000 jobs in June, a significant decrease from the previous month.
- The unemployment rate fell to 4.2% in June from 4.3% in May.
U.S. applications for jobless aid edged down last week, indicating that layoffs remain at historically healthy levels. The Labor Department reported that 215,000 Americans filed for unemployment benefits in the week ending June 27, a decrease of 1,000 from the prior week and below the 225,000 forecast by analysts. This figure is considered a close indicator of the job market's health.
Separately, the government released its June jobs report, showing that U.S. employers added only 57,000 jobs, less than half the previous month's total, suggesting companies are proceeding with caution. The unemployment rate declined to 4.2% from 4.3% in May, though this was partly due to individuals giving up their job search. The tepid hiring in June follows a surge in job gains in the preceding three months.
The four-week moving average of jobless claims, which smooths out weekly fluctuations, fell by 2,500 to 222,000. The total number of Americans receiving unemployment benefits remained at a historically low figure of 1.81 million.