U.S. Jobless Claims Fall, but Continuing Unemployment Claims Rise

The number of U.S. citizens filing new applications for unemployment insurance decreased to 236,000 for the week ending June 21, as reported by the U.S. Department of Labor (DOL) on Thursday. This figure came in lower than both initial estimates and the previous week’s revised total of 246,000 (which had been revised from 245,000).

Despite the drop in new claims, the report also highlighted a seasonally adjusted insured unemployment rate of 1.3%. Additionally, the four-week moving average of claims decreased by 750, falling to 245,000 from the previous week’s revised average. This suggests a modest easing in new claims over the past month.

However, continuing jobless claims, which reflect individuals who continue to receive unemployment benefits, saw an increase of 37,000, reaching 1.974 million for the week ending June 14. This rise indicates that while fewer people are initially filing for unemployment, a higher number are still relying on unemployment benefits, reflecting potential challenges in fully returning to work or securing long-term employment.

Overall, while the latest data suggests some improvements in the job market, the increase in continuing claims signals that ongoing economic uncertainty continues to affect many workers’ ability to regain stable employment.