US jobless aid filings rise to 229,000 last week, remain historically low despite Iran war headwinds
Weekly filings climbed above forecasts and remained in a historically low range, suggesting the labor market is still holding steady despite hiring slowdown concerns.
- The Labor Department reported Thursday that Americans filing for unemployment benefits rose by 4,000 to 229,000, exceeding the 216,000 forecast by FactSet.
- Rising gas prices triggered by the closure of the Strait of Hormuz off Iran's southern border pushed U.S. consumer inflation in May to 4.2%, its highest level in three years.
- Hiring has picked up recently with 172,000 new jobs added in May, and the unemployment rate remains historically low at 4.3%.
- Most analysts expect the Federal Reserve to maintain benchmark interest rates when officials meet next week, given inflation remains well above the 2% target.
- Companies including Amazon, Walmart, Disney, Starbucks, UPS, and Verizon have cut jobs recently, while hiring had already tapered in 2025 due to President Donald Trump's tariffs and lingering high interest rates.
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Associated Press News
US jobless aid filings rise to 229,000 last week, remain historically low despite Iran war headwinds
U.S. applications for jobless aid rose modestly last week, but remain at a historically low level despite economic headwinds brought on by the war in Iran.
The number of Americans filing initial claims for unemployment benefits rose slightly last week (May 31-June 6), indicating that the labor market continued to remain resilient in early June.
US Jobless Claims Rise to 229k, Continuing Claims Climb - ActionForex
US initial jobless claims rose by 4k to 229k in the week ending June 6, slightly above expectations of 225k. The underlying trend also moved higher. The four-week moving average of initial claims, which smooths out weekly volatility, increased by 4.25k to 219k. Meanwhile, continuing claims rose by 24k to 1.795m in the week ending […] The post US Jobless Claims Rise to 229k, Continuing Claims Climb appeared first on ActionForex.
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