PT Solid Gold Berjangka | US Jobless Claims Rise to Highest in 9 Months, Led by California
Klaim pengangguran AS Ekonomi AS Unemployment Claims PT SGB Solid Gold Berjangka Solid Group SG Berjangka
Solid Gold Berjangka | Initial applications for US unemployment benefits jumped to the highest level in nine months, led by a large increase in California.
Initial claims increased by 13,000 to 242,000 in the week ended June 8, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 225,000.
The US unemployment rate rose to 4% last month — reaching that level for the first time in more than two years and mostly reflecting people returning to the workforce and not finding a job. Layoffs, however, have remained subdued.
New claims before adjustment for seasonal influences rose by 38,530 to 234,707 last week. Besides California, Pennsylvania and Minnesota also saw sizable gains. The release didn’t specify the reasons behind the jump in California, but mentioned layoffs in transportation and manufacturing in Pennsylvania, as well as job cuts in education in Minnesota.
The four-week moving average, which helps smooth short-term fluctuations, increased to 227,000, the highest since September.
Federal Reserve Chair Jerome Powell on Wednesday said the labor market remains strong, but is gradually cooling with supply and demand coming into a better balance.
Continuing claims, a proxy for the number of people receiving unemployment benefits, rose to 1.82 million in the week ended June 1, which included Memorial Day. Weekly data can fluctuate around holidays.
In the 20 years that preceded the Covid-19 pandemic, weekly initial applications averaged about 345,000, and continuing claims roughly 2.9 million.
Source : Bloomberg