US Initial Jobless Claims Rise to 215,000, Above Forecast
Summary
- The US Labor Department said initial jobless claims totaled 215,000 last week, above economists’ forecast of 211,000.
- Continuing jobless claims came in at 1.786 million, exceeding both the prior week’s revised figure and the market forecast.
- Economists are monitoring jobless claims and other employment indicators to assess how US President Donald Trump’s aggressive tariff policies are affecting corporate decision-making.
Forecast Trend Report by Period
US initial jobless claims came in above market expectations last week.
The Labor Department said on May 28 that initial claims for unemployment benefits totaled 215,000 last week. That was 4,000 higher than economists’ forecast of 211,000 and up 5,000 from the prior week’s revised 210,000.
Continuing claims, which reflect people receiving benefits for a second straight week, totaled 1.786 million. That was 15,000 above the prior week’s revised 1.771 million and 6,000 higher than the market forecast of 1.78 million.
Initial jobless claims are a closely watched indicator of whether the US labor market is cooling from overheated conditions. An increase in claims can be interpreted as a sign that labor-market tightness is easing.
Economists are watching employment indicators, including jobless claims, to gauge how President Donald Trump’s aggressive tariff policies are affecting corporate decision-making.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
