U.S. Unemployment Claims Reach 245,000... 4-Week Average Highest Since 2023
Summary
- The number of new unemployment claims in the United States totaled 245,000, stabilizing near the highest level in the past eight months.
- The 4-week moving average reached 245,500, its highest level since August 2023, which has been interpreted as a sign of labor market slowdown.
- Amid concerns over the weakening job market and the Trump administration’s tariff policy, investors are increasingly attentive to employment indicators as a barometer of real economic trends.
Bloomberg: "Stabilizing Near the Highest Level in the Past 8 Months"
The U.S. Department of Labor announced on the 18th (local time) that initial unemployment claims for the week of June 8–14 totaled 245,000, a decrease of 5,000 from the previous week.
This figure is slightly below the expert forecast of 246,000 compiled by Dow Jones. Bloomberg News reported that "the number of claims is stabilizing near the highest level in the past eight months."
The 4-week moving average of new claims increased by 5,750 from the previous week to 245,500, marking the highest level in 1 year and 10 months since August 2023. This indicates that the number of people filing for unemployment is on a rising trend, suggesting a gradual slowdown in the labor market.
The number of 'continuing unemployment claims,' which refers to claims by those receiving unemployment benefits for more than two weeks, decreased by 6,000 to 1,945,000 for the week of June 1–7 compared to the week prior.
With mounting concerns that the tariff policy of the Donald Trump administration could negatively impact the employment market, Wall Street is closely monitoring employment indicators as a gauge of the real economy's direction.
Reporter Da-yeon Lim allopen@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
